Sax Wealth Advisors LLC Purchases 19,737 Shares of News Corporation $NWSA

Sax Wealth Advisors LLC acquired a new position in shares of News Corporation (NASDAQ:NWSA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,737 shares of the company’s stock, valued at approximately $565,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NWSA. Empirical Finance LLC increased its stake in shares of News by 3.3% during the second quarter. Empirical Finance LLC now owns 13,861 shares of the company’s stock worth $344,000 after purchasing an additional 442 shares in the last quarter. Compound Planning Inc. lifted its stake in News by 5.0% in the 1st quarter. Compound Planning Inc. now owns 11,184 shares of the company’s stock valued at $279,000 after buying an additional 537 shares in the last quarter. Tidal Investments LLC lifted its stake in News by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 72,008 shares of the company’s stock valued at $1,788,000 after buying an additional 757 shares in the last quarter. Patton Fund Management Inc. lifted its stake in News by 9.6% in the 1st quarter. Patton Fund Management Inc. now owns 9,596 shares of the company’s stock valued at $239,000 after buying an additional 843 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in News by 96.2% in the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock worth $55,000 after buying an additional 1,073 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price objective on shares of News in a research note on Thursday, August 6th. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Finally, Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, News presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

News Stock Performance

NASDAQ NWSA opened at $30.22 on Friday. The stock has a fifty day simple moving average of $29.57 and a 200-day simple moving average of $27.50. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.35 billion, a PE ratio of 29.34 and a beta of 0.97. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.66.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.14. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. News’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Equities analysts anticipate that News Corporation will post 1.31 earnings per share for the current year.

News Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were paid a dividend of $0.10 per share. This represents a yield of 68.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s dividend payout ratio (DPR) is 19.42%.

News Profile

News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.