Bessemer Group Inc. Has $309,000 Stake in Time Warner Inc (TWX)
Bessemer Group Inc. lowered its stake in shares of Time Warner Inc (NYSE:TWX) by 88.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,374 shares of the media conglomerate’s stock after selling 24,807 shares during the quarter. Bessemer Group Inc.’s holdings in Time Warner were worth $309,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TWX. Bank of Nova Scotia Trust Co. bought a new position in Time Warner in the 3rd quarter valued at $102,000. Americafirst Capital Management LLC bought a new position in Time Warner in the 3rd quarter valued at $106,000. Zions Bancorporation grew its position in Time Warner by 698.6% in the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after acquiring an additional 999 shares during the last quarter. Advisory Services Network LLC grew its position in Time Warner by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock valued at $144,000 after acquiring an additional 26 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in Time Warner in the 2nd quarter valued at $172,000. 76.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Time Warner Inc (TWX) opened at $94.31 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.91 and a current ratio of 1.08. The firm has a market capitalization of $73,430.00, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.24 and a beta of 0.94. Time Warner Inc has a 12 month low of $85.88 and a 12 month high of $103.90.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, January 9th. Time Warner’s dividend payout ratio (DPR) is currently 29.65%.
Several equities analysts have commented on TWX shares. ValuEngine downgraded Time Warner from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Time Warner in a research report on Friday, October 27th. Zacks Investment Research raised Time Warner from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. B. Riley reaffirmed a “hold” rating and issued a $101.00 price objective on shares of Time Warner in a research report on Tuesday, November 21st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Time Warner in a research report on Tuesday, October 17th. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Time Warner currently has an average rating of “Hold” and an average price target of $104.36.
In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now directly owns 855,925 shares in the company, valued at approximately $77,589,601.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William P. Barr sold 4,019 shares of the company’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 sale, the director now owns 44,959 shares of the company’s stock, valued at $4,370,014.80. The disclosure for this sale can be found here. Insiders have sold a total of 360,966 shares of company stock valued at $32,745,250 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
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Time Warner Profile
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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