Beverly Hills Private Wealth LLC Lowers Holdings in News Corporation $NWS

Beverly Hills Private Wealth LLC trimmed its holdings in News Corporation (NASDAQ:NWS) by 32.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,745 shares of the company’s stock after selling 37,101 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in News were worth $2,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of News by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,032 shares of the company’s stock worth $588,000 after acquiring an additional 337 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in News by 7.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,983 shares of the company’s stock worth $162,000 after purchasing an additional 338 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of News by 8.9% during the 3rd quarter. iA Global Asset Management Inc. now owns 4,480 shares of the company’s stock valued at $155,000 after purchasing an additional 367 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of News by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 4,014 shares of the company’s stock valued at $139,000 after purchasing an additional 386 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of News by 15.5% in the third quarter. Bessemer Group Inc. now owns 3,027 shares of the company’s stock worth $104,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Down 0.3%

Shares of NWS opened at $26.19 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $29.28 and a 200 day moving average of $30.75. The company has a market cap of $14.55 billion, a PE ratio of 12.90 and a beta of 0.97. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.58.

News (NASDAQ:NWS) last announced its earnings results on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.15. News had a net margin of 13.35% and a return on equity of 5.94%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, sell-side analysts expect that News Corporation will post 1.03 EPS for the current year.

News Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a yield of 73.0%. News’s dividend payout ratio is 9.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NWS. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

News Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.