Time Warner Inc. (TWX) Position Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its stake in shares of Time Warner Inc. (NYSE:TWX) by 10.7% during the first quarter, Holdings Channel reports. The institutional investor owned 10,241 shares of the media conglomerate’s stock after selling 1,229 shares during the period. Great Lakes Advisors LLC’s holdings in Time Warner were worth $1,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dodge & Cox purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $3,124,831,000. Franklin Resources Inc. increased its position in shares of Time Warner by 106.8% in the fourth quarter. Franklin Resources Inc. now owns 12,389,546 shares of the media conglomerate’s stock valued at $1,195,963,000 after buying an additional 6,398,328 shares in the last quarter. FMR LLC increased its position in shares of Time Warner by 14.9% in the fourth quarter. FMR LLC now owns 11,863,677 shares of the media conglomerate’s stock valued at $1,145,200,000 after buying an additional 1,540,311 shares in the last quarter. Norges Bank purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $591,981,000. Finally, Highfields Capital Management LP increased its position in shares of Time Warner by 139.3% in the fourth quarter. Highfields Capital Management LP now owns 3,385,770 shares of the media conglomerate’s stock valued at $326,828,000 after buying an additional 1,970,770 shares in the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.

Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

Time Warner Inc. (TWX) opened at 99.70 on Friday. Time Warner Inc. has a 52-week low of $68.97 and a 52-week high of $100.60. The stock’s 50 day moving average is $98.82 and its 200-day moving average is $97.45. The company has a market cap of $77.32 billion, a PE ratio of 19.02 and a beta of 1.09.

Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. Time Warner had a net margin of 13.90% and a return on equity of 19.45%. The firm had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that Time Warner Inc. will post $6.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, May 26th. Time Warner’s payout ratio is 30.78%.

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Several research analysts have recently issued reports on the stock. Loop Capital downgraded shares of Time Warner from a “buy” rating to a “hold” rating and set a $107.50 price target for the company. in a report on Thursday, March 2nd. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reiterated a “buy” rating and set a $105.00 price target on shares of Time Warner in a report on Monday, May 22nd. Pivotal Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating and upped their price target for the stock from $100.00 to $107.50 in a report on Thursday, April 20th. Finally, Rosenblatt Securities assumed coverage on shares of Time Warner in a report on Tuesday, April 4th. They set a “neutral” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Time Warner has an average rating of “Hold” and a consensus price target of $100.50.

In related news, CFO Howard M. Averill bought 255 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Time Warner Company 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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