Insider Selling: Time Warner Cable CEO Sells 16,000 Shares of Stock (TWC)
Time Warner Cable (NYSE:TWC) CEO Robert D. Marcus sold 16,000 shares of Time Warner Cable stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $147.81, for a total transaction of $2,364,960.00. Following the transaction, the chief executive officer now directly owns 61,281 shares of the company’s stock, valued at approximately $9,057,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Time Warner Cable (NYSE:TWC) traded down 0.32% on Thursday, hitting $147.52. 1,536,272 shares of the company’s stock traded hands. Time Warner Cable has a one year low of $106.01 and a one year high of $154.12. The stock’s 50-day moving average is $147.8 and its 200-day moving average is $141.7. The company has a market cap of $41.230 billion and a price-to-earnings ratio of 20.57.
Time Warner Cable (NYSE:TWC) last released its earnings data on Thursday, July 31st. The company reported $1.89 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.97 by $0.08. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Time Warner Cable will post $7.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, August 27th.
A number of research firms have recently commented on TWC. Analysts at Jefferies Group reiterated a “hold” rating on shares of Time Warner Cable in a research note on Friday, August 1st. They now have a $178.00 price target on the stock, up previously from $150.00. Separately, analysts at Telsey Advisory Group reiterated a “” rating on shares of Time Warner Cable in a research note on Thursday, July 31st. They now have a $158.00 price target on the stock. Finally, analysts at Wunderlich upgraded shares of Time Warner Cable from a “hold” rating to a “buy” rating in a research note on Monday, July 28th. They now have a $190.00 price target on the stock, up previously from $146.00. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $155.06.
Time Warner Cable Inc (NYSE:TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas.
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