State of Alaska Department of Revenue Has $1.26 Million Holdings in News Corporation $NWSA

State of Alaska Department of Revenue lessened its holdings in News Corporation (NASDAQ:NWSA) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,319 shares of the company’s stock after selling 1,970 shares during the period. State of Alaska Department of Revenue’s holdings in News were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sentry Investment Management LLC acquired a new stake in shares of News in the 1st quarter worth about $36,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after acquiring an additional 1,571 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of News in the 1st quarter worth about $73,000. CX Institutional acquired a new stake in shares of News in the 1st quarter worth about $76,000. Finally, Horizon Investments LLC raised its holdings in shares of News by 7.7% in the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after acquiring an additional 398 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 0.6%

Shares of NASDAQ:NWSA opened at $28.38 on Friday. The firm has a fifty day moving average price of $29.59 and a two-hundred day moving average price of $28.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a one year low of $23.38 and a one year high of $31.61. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 13.64 and a beta of 1.17.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The company also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date of this dividend is Wednesday, September 10th. News’s dividend payout ratio (DPR) is presently 9.62%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a research note on Saturday, September 27th. Finally, Macquarie reiterated a “neutral” rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, News presently has an average rating of “Buy” and a consensus target price of $38.62.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.