State of Tennessee Treasury Department decreased its stake in Time Warner Inc (NYSE:TWX) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 487,027 shares of the media conglomerate’s stock after selling 60,398 shares during the quarter. State of Tennessee Treasury Department’s holdings in Time Warner were worth $44,549,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TWX. Advisory Services Network LLC lifted its stake in shares of Time Warner by 1.8% in the second quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock valued at $144,000 after purchasing an additional 26 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Time Warner in the third quarter valued at about $1,497,000. Fisher Asset Management LLC lifted its stake in shares of Time Warner by 6.2% in the third quarter. Fisher Asset Management LLC now owns 10,792 shares of the media conglomerate’s stock valued at $1,106,000 after purchasing an additional 626 shares during the period. APG Asset Management N.V. lifted its stake in shares of Time Warner by 2.0% in the third quarter. APG Asset Management N.V. now owns 2,419,279 shares of the media conglomerate’s stock valued at $247,855,000 after purchasing an additional 48,300 shares during the period. Finally, Havens Advisors LLC lifted its stake in shares of Time Warner by 23.3% in the third quarter. Havens Advisors LLC now owns 160,300 shares of the media conglomerate’s stock valued at $16,423,000 after purchasing an additional 30,300 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.
In other news, Director Deborah C. Wright sold 4,019 shares of Time Warner stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $93.61, for a total transaction of $376,218.59. Following the completion of the sale, the director now directly owns 27,785 shares in the company, valued at $2,600,953.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Olaf Olafsson sold 23,450 shares of Time Warner stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,966 shares of company stock valued at $32,745,250. Insiders own 0.16% of the company’s stock.
TWX has been the subject of several recent analyst reports. ValuEngine cut shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen restated a “hold” rating and set a $102.00 target price on shares of Time Warner in a research report on Friday, October 27th. Royal Bank of Canada restated a “hold” rating and set a $102.00 target price on shares of Time Warner in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Time Warner from a “sell” rating to a “hold” rating and set a $110.00 target price for the company in a research report on Monday, October 30th. Finally, B. Riley restated a “neutral” rating and set a $101.00 target price (down previously from $105.00) on shares of Time Warner in a research report on Friday, November 3rd. Sixteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Time Warner has an average rating of “Hold” and an average target price of $104.36.
Shares of Time Warner Inc (TWX) opened at $94.98 on Thursday. The company has a market cap of $74,154.60, a PE ratio of 14.33, a PEG ratio of 1.28 and a beta of 0.94. Time Warner Inc has a twelve month low of $85.88 and a twelve month high of $103.90. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. The business had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. research analysts predict that Time Warner Inc will post 7.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.4025 per share. The ex-dividend date was Tuesday, January 9th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.70%. Time Warner’s dividend payout ratio (DPR) is presently 24.32%.
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About Time Warner
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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