Allen Investment Management LLC boosted its stake in shares of Time Warner Cable Inc (NYSE:TWC) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,201 shares of the cable operator’s stock after buying an additional 35,479 shares during the period. Time Warner Cable accounts for about 5.3% of Allen Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. Allen Investment Management LLC owned 0.11% of Time Warner Cable worth $63,269,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC World Markets Inc. purchased a new position in Time Warner Cable during the first quarter valued at $269,000. Nikko Asset Management Americas Inc. purchased a new position in Time Warner Cable during the first quarter valued at $329,000. Meiji Yasuda Asset Management Co Ltd. increased its position in Time Warner Cable by 7.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,645 shares of the cable operator’s stock valued at $337,000 after buying an additional 120 shares during the last quarter. FDO Partners LLC purchased a new position in Time Warner Cable during the first quarter valued at $370,000. Finally, Reynolds Capital Management LLC purchased a new position in Time Warner Cable during the first quarter valued at $389,000.
Shares of Time Warner Cable Inc (NYSE:TWC) remained flat at $209.56 on Monday. The stock’s 50-day moving average price is $208.28 and its 200 day moving average price is $192.56. Time Warner Cable Inc has a 12-month low of $162.33 and a 12-month high of $217.91.
Time Warner Cable (NYSE:TWC) last announced its earnings results on Thursday, April 28th. The cable operator reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.04. The business had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Time Warner Cable Inc will post $7.50 EPS for the current fiscal year.
Several research firms recently weighed in on TWC. Zacks Investment Research raised Time Warner Cable from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Buckingham Research reissued a “hold” rating and set a $219.00 price target (up previously from $187.00) on shares of Time Warner Cable in a research report on Saturday, March 19th. Wunderlich reissued a “hold” rating and set a $237.00 price target (up previously from $219.00) on shares of Time Warner Cable in a research report on Monday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Time Warner Cable in a research report on Monday, April 11th. Finally, Deutsche Bank AG raised their price target on Time Warner Cable from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 12th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Time Warner Cable currently has a consensus rating of “Hold” and an average target price of $214.24.
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