Hennessy Advisors Inc. Takes Position in Time Warner Inc. (TWX)
Hennessy Advisors Inc. purchased a new position in Time Warner Inc. (NYSE:TWX) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 218,500 shares of the media conglomerate’s stock, valued at approximately $17,395,000.
A number of other large investors have also bought and sold shares of TWX. First Republic Investment Management Inc. increased its stake in Time Warner by 82.1% in the first quarter. First Republic Investment Management Inc. now owns 58,029 shares of the media conglomerate’s stock worth $4,211,000 after buying an additional 26,171 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its stake in Time Warner by 46.4% in the second quarter. Summit Financial Wealth Advisors LLC now owns 4,133 shares of the media conglomerate’s stock worth $304,000 after buying an additional 1,309 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in Time Warner during the second quarter worth $208,000. NEXT Financial Group Inc increased its stake in Time Warner by 59.9% in the second quarter. NEXT Financial Group Inc now owns 2,125 shares of the media conglomerate’s stock worth $156,000 after buying an additional 796 shares in the last quarter. Finally, British Columbia Investment Management Corp increased its stake in Time Warner by 3.4% in the second quarter. British Columbia Investment Management Corp now owns 511,142 shares of the media conglomerate’s stock worth $37,589,000 after buying an additional 16,679 shares in the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded down 0.77% during midday trading on Wednesday, hitting $92.19. The stock had a trading volume of 1,075,016 shares. The stock has a market cap of $71.09 billion, a P/E ratio of 16.40 and a beta of 1.08. Time Warner Inc. has a 52 week low of $55.53 and a 52 week high of $94.44. The company has a 50-day moving average price of $86.51 and a 200-day moving average price of $79.10.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, November 2nd. The media conglomerate reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.46. Time Warner had a return on equity of 18.95% and a net margin of 15.75%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Time Warner’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that Time Warner Inc. will post $5.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, November 28th. Time Warner’s payout ratio is 28.60%.
TWX has been the topic of a number of recent research reports. Albert Fried & Company reiterated a “buy” rating and set a $90.00 price target on shares of Time Warner in a research note on Wednesday, August 3rd. Royal Bank Of Canada lifted their price objective on Time Warner from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $89.00 price objective (up from $87.00) on shares of Time Warner in a report on Thursday, August 4th. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $88.00) on shares of Time Warner in a report on Thursday, August 4th. Finally, Wunderlich cut their price objective on Time Warner from $106.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $95.04.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the transaction, the executive vice president now directly owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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