Asset Management One Co. Ltd. Sells 4,439 Shares of News Corporation $NWSA

Asset Management One Co. Ltd. lowered its position in News Corporation (NASDAQ:NWSA) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,775 shares of the company’s stock after selling 4,439 shares during the quarter. Asset Management One Co. Ltd.’s holdings in News were worth $5,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP grew its stake in News by 6.0% in the second quarter. Forum Financial Management LP now owns 11,568 shares of the company’s stock worth $344,000 after purchasing an additional 653 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in News during the 2nd quarter valued at $30,000. Jackson Thornton Wealth Management LLC bought a new stake in News during the 2nd quarter valued at $209,000. DekaBank Deutsche Girozentrale boosted its position in News by 1.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,245 shares of the company’s stock valued at $1,102,000 after acquiring an additional 505 shares in the last quarter. Finally, West Tower Group LLC boosted its position in News by 83.3% during the 2nd quarter. West Tower Group LLC now owns 38,454 shares of the company’s stock valued at $1,143,000 after acquiring an additional 17,480 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Zacks Research cut News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, Macquarie reissued a “neutral” rating and issued a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, News has an average rating of “Moderate Buy” and an average target price of $38.62.

News Stock Performance

Shares of NWSA stock opened at $26.68 on Wednesday. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 12.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The business has a fifty day moving average of $28.66 and a 200 day moving average of $28.49. News Corporation has a 1 year low of $23.38 and a 1 year high of $31.61.

News (NASDAQ:NWSA) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, research analysts expect that News Corporation will post 0.94 earnings per share for the current year.

News Announces Dividend

The business also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s dividend payout ratio (DPR) is presently 9.62%.

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.