Northwestern Mutual Investment Management Company LLC cut its holdings in Time Warner Inc. (NYSE:TWX) by 80.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,003 shares of the media conglomerate’s stock after selling 126,523 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Time Warner were worth $2,206,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TWX. Synovus Financial Corp lifted its holdings in Time Warner by 2.4% in the 2nd quarter. Synovus Financial Corp now owns 11,298 shares of the media conglomerate’s stock valued at $1,131,000 after purchasing an additional 268 shares in the last quarter. Intact Investment Management Inc. purchased a new position in Time Warner in the 2nd quarter valued at about $321,000. MUFG Securities EMEA plc purchased a new position in Time Warner in the 2nd quarter valued at about $6,527,000. Providence First Trust Co purchased a new position in Time Warner in the 2nd quarter valued at about $322,000. Finally, Delta Lloyd Asset Management N.V. purchased a new position in Time Warner in the 2nd quarter valued at about $68,633,000. Institutional investors and hedge funds own 79.16% of the company’s stock.
Time Warner Inc. (TWX) opened at 101.97 on Tuesday. The stock has a market cap of $79.31 billion, a PE ratio of 18.92 and a beta of 1.04. The firm has a 50-day moving average price of $101.64 and a 200-day moving average price of $99.74. Time Warner Inc. has a 12-month low of $74.68 and a 12-month high of $103.34.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the business earned $1.29 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
A number of research firms have issued reports on TWX. Credit Suisse Group lowered shares of Time Warner from an “outperform” rating to a “neutral” rating in a report on Monday. BMO Capital Markets restated a “hold” rating and issued a $108.00 target price on shares of Time Warner in a report on Wednesday, September 13th. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Jefferies Group LLC restated a “hold” rating and issued a $105.00 target price on shares of Time Warner in a report on Sunday, September 10th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $108.00 target price on shares of Time Warner in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $102.25.
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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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