Reliance Trust Co. of Delaware Reduces Stake in Time Warner Inc. (TWX)
Reliance Trust Co. of Delaware decreased its position in Time Warner Inc. (NYSE:TWX) by 74.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,519 shares of the media conglomerate’s stock after selling 58,184 shares during the period. Reliance Trust Co. of Delaware’s holdings in Time Warner were worth $1,554,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. BKD Wealth Advisors LLC boosted its stake in Time Warner by 3.3% in the second quarter. BKD Wealth Advisors LLC now owns 15,859 shares of the media conglomerate’s stock worth $1,166,000 after buying an additional 507 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Time Warner by 0.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,978 shares of the media conglomerate’s stock worth $513,000 after buying an additional 22 shares in the last quarter. Alpha Windward LLC boosted its stake in Time Warner by 31.7% in the second quarter. Alpha Windward LLC now owns 2,591 shares of the media conglomerate’s stock worth $191,000 after buying an additional 624 shares in the last quarter. Trust Co boosted its stake in Time Warner by 1.7% in the first quarter. Trust Co now owns 10,105 shares of the media conglomerate’s stock worth $733,000 after buying an additional 172 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in Time Warner by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 721,685 shares of the media conglomerate’s stock worth $53,073,000 after buying an additional 7,274 shares in the last quarter. Institutional investors own 80.32% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded up 0.01% during trading on Tuesday, reaching $92.91. 2,977,401 shares of the company traded hands. The firm has a market capitalization of $71.65 billion, a price-to-earnings ratio of 16.53 and a beta of 1.08. The company’s 50-day moving average price is $86.72 and its 200 day moving average price is $79.15. Time Warner Inc. has a 52 week low of $55.53 and a 52 week high of $94.44.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, November 2nd. The media conglomerate reported $1.83 EPS for the quarter, beating the consensus estimate of $1.37 by $0.46. The company earned $7.20 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Time Warner had a net margin of 15.75% and a return on equity of 18.95%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. On average, equities research 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 $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, November 28th. Time Warner’s payout ratio is presently 28.60%.
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Several brokerages have weighed in on TWX. Brean Capital reiterated a “buy” rating on shares of Time Warner in a research note on Tuesday. Jefferies Group lifted their price objective on shares of Time Warner from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Albert Fried & Company reiterated a “buy” rating and issued a $90.00 price objective on shares of Time Warner in a research note on Wednesday, August 3rd. Pivotal Research cut shares of Time Warner from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $94.00 to $107.50 in a research note on Monday, October 24th. Finally, Wunderlich dropped their price objective on shares of Time Warner from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. One 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 given a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Buy” and an average target price of $95.04.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the transaction, the executive vice president now directly owns 157,877 shares in the company, valued at approximately $12,352,296.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 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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