Time Warner Inc. (TWX) Position Cut by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. decreased its position in shares of Time Warner Inc. (NYSE:TWX) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 554,657 shares of the media conglomerate’s stock after selling 13,500 shares during the period. Pictet Asset Management Ltd. owned approximately 0.07% of Time Warner worth $55,183,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares during the last quarter. Canyon Capital Advisors LLC raised its stake in Time Warner by 397.0% in the first quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock worth $556,541,000 after buying an additional 4,549,848 shares during the last quarter. OZ Management LP raised its stake in Time Warner by 98.2% in the first quarter. OZ Management LP now owns 6,243,467 shares of the media conglomerate’s stock worth $610,049,000 after buying an additional 3,093,353 shares during the last quarter. Renaissance Technologies LLC raised its stake in Time Warner by 4,979.0% in the first quarter. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate’s stock worth $261,700,000 after buying an additional 2,625,600 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after buying an additional 1,740,936 shares during the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.
Time Warner Inc. (TWX) opened at 101.42 on Friday. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34. The stock has a 50 day moving average of $101.22 and a 200 day moving average of $99.25. The stock has a market capitalization of $78.88 billion, a P/E ratio of 18.82 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. Time Warner’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.4025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.59%. Time Warner’s dividend payout ratio is currently 29.98%.
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A number of analysts have recently weighed in on the stock. BidaskClub lowered shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Barclays PLC lowered shares of Time Warner from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $95.00 to $107.00 in a research note on Friday, August 4th. Royal Bank Of Canada reiterated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Friday, July 14th. MKM Partners reiterated a “neutral” rating and issued a $107.50 price objective (up previously from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Finally, Evercore ISI lowered shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective on the stock. in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $102.25.
In related news, CFO Howard M. Averill purchased 255 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average price of $99.67 per share, with a total value of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.
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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