Harbor Advisors LLC Buys Shares of 6,000 Time Warner Inc (TWX)
Harbor Advisors LLC purchased a new position in shares of Time Warner Inc (NYSE:TWX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,000 shares of the media conglomerate’s stock, valued at approximately $549,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. grew its position in Time Warner by 3.2% during the 3rd quarter. Whittier Trust Co. now owns 49,180 shares of the media conglomerate’s stock worth $5,038,000 after acquiring an additional 1,513 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Time Warner during the 3rd quarter worth approximately $12,294,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Time Warner by 10.7% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 373,956 shares of the media conglomerate’s stock worth $38,312,000 after acquiring an additional 36,200 shares during the last quarter. Swiss National Bank grew its position in Time Warner by 1.9% during the 3rd quarter. Swiss National Bank now owns 3,052,408 shares of the media conglomerate’s stock worth $312,719,000 after acquiring an additional 56,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Time Warner by 20.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,880 shares of the media conglomerate’s stock worth $194,130,000 after acquiring an additional 319,196 shares during the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.
In other news, Director William P. Barr sold 4,019 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $97.20, for a total value of $390,646.80. Following the transaction, the director now directly owns 44,959 shares in the company, valued at approximately $4,370,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the completion of the transaction, the chief executive officer now owns 855,925 shares in the company, valued at $77,589,601.25. The disclosure for this sale can be found here. Insiders sold a total of 356,947 shares of company stock worth $32,369,031 over the last 90 days. 0.16% of the stock is owned by corporate insiders.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.16. The firm had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.41 billion. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. equities research analysts predict that Time Warner Inc will post 7.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a $0.4025 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.74%. Time Warner’s dividend payout ratio is currently 24.32%.
A number of equities research analysts recently commented on TWX shares. Deutsche Bank restated a “buy” rating and set a $99.00 price target on shares of Time Warner in a research report on Friday, November 10th. Zacks Investment Research lowered Time Warner from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Loop Capital decreased their price target on Time Warner from $107.50 to $102.00 and set a “hold” rating on the stock in a research report on Thursday, November 9th. Wells Fargo & Co restated a “market perform” rating and set a $84.00 price target (down from $100.00) on shares of Time Warner in a research report on Tuesday, November 21st. Finally, Cowen restated a “hold” rating and set a $102.00 price target on shares of Time Warner in a research report on Friday, October 27th. Sixteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $104.36.
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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