Beverly Hills Private Wealth LLC Decreases Stake in News Corporation $NWS

Beverly Hills Private Wealth LLC reduced its holdings in shares of News Corporation (NASDAQ:NWS) by 32.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of NWS. NEOS Investment Management LLC purchased a new stake in shares of News during the 3rd quarter valued at about $531,000. Vanguard Group Inc. boosted its holdings in News by 23.1% in the third quarter. Vanguard Group Inc. now owns 8,819,105 shares of the company’s stock worth $304,700,000 after purchasing an additional 1,657,727 shares during the last quarter. JPMorgan Chase & Co. grew its position in News by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 661,412 shares of the company’s stock worth $22,852,000 after purchasing an additional 81,986 shares during the period. Aberdeen Group plc raised its stake in News by 2.6% during the 3rd quarter. Aberdeen Group plc now owns 98,183 shares of the company’s stock valued at $3,392,000 after buying an additional 2,451 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in News by 14.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 26,746 shares of the company’s stock valued at $924,000 after buying an additional 3,319 shares during the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Stock Down 0.3%

NASDAQ NWS opened at $26.19 on Friday. The stock’s 50-day moving average price is $29.28 and its 200-day moving average price is $30.75. The company has a market capitalization of $14.55 billion, a P/E ratio of 12.90 and a beta of 0.97. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. News Corporation has a 52 week low of $25.49 and a 52 week high of $35.58.

News (NASDAQ:NWS) last released its earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.15. News had a net margin of 13.35% and a return on equity of 5.94%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities research analysts predict that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be issued 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 currently 9.85%.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, News currently has an average rating of “Strong Buy”.

News Company 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.