Covington Capital Management lifted its position in Time Warner Inc (NYSE:TWX) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,691 shares of the media conglomerate’s stock after acquiring an additional 10,462 shares during the quarter. Covington Capital Management’s holdings in Time Warner were worth $11,588,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. bought a new stake in shares of Time Warner in the third quarter valued at about $102,000. Americafirst Capital Management LLC bought a new stake in shares of Time Warner in the third quarter valued at about $106,000. Zions Bancorporation raised its holdings in shares of Time Warner by 698.6% in the third quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after acquiring an additional 999 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Time Warner in the fourth quarter valued at about $131,000. Finally, Highland Private Wealth Management bought a new stake in shares of Time Warner in the third quarter valued at about $202,000. Hedge funds and other institutional investors own 80.89% of the company’s stock.
In other news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Deborah C. Wright sold 4,019 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $93.61, for a total value of $376,218.59. Following the sale, the director now owns 27,785 shares in the company, valued at approximately $2,600,953.85. The disclosure for this sale can be found here. Insiders have sold 31,488 shares of company stock worth $2,878,069 in the last 90 days. Insiders own 0.16% of the company’s stock.
Shares of Time Warner Inc (TWX) traded up $0.36 during mid-day trading on Wednesday, hitting $96.52. The stock had a trading volume of 165,760 shares, compared to its average volume of 4,895,937. Time Warner Inc has a 1-year low of $85.88 and a 1-year high of $103.90. The stock has a market capitalization of $74,990.00, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 0.91.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.16. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The business had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. equities analysts expect that Time Warner Inc will post 7.67 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/03/14/covington-capital-management-purchases-10462-shares-of-time-warner-inc-twx.html.
Time Warner 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.
Want to see what other hedge funds are holding TWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Time Warner Inc (NYSE:TWX).
Receive News & Ratings for Time Warner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Warner and related companies with MarketBeat.com's FREE daily email newsletter.