SVB Wealth LLC Buys New Shares in News Corporation $NWSA

SVB Wealth LLC bought a new stake in News Corporation (NASDAQ:NWSA) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,691 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds have also made changes to their positions in the stock. AlphaQuest LLC lifted its stake in shares of News by 30.5% in the first quarter. AlphaQuest LLC now owns 55,862 shares of the company’s stock valued at $1,521,000 after buying an additional 13,069 shares during the period. Allstate Corp lifted its stake in shares of News by 117.8% in the first quarter. Allstate Corp now owns 22,584 shares of the company’s stock valued at $615,000 after buying an additional 12,217 shares during the period. Compound Planning Inc. lifted its stake in News by 18.8% during the first quarter. Compound Planning Inc. now owns 12,438 shares of the company’s stock worth $339,000 after purchasing an additional 1,969 shares during the period. Norinchukin Bank The lifted its stake in News by 14.3% during the first quarter. Norinchukin Bank The now owns 18,518 shares of the company’s stock worth $504,000 after purchasing an additional 2,320 shares during the period. Finally, Partners Capital Investment Group LLP bought a new position in News during the first quarter worth about $4,458,000. Institutional investors own 66.97% of the company’s stock.

News Stock Performance

NASDAQ:NWSA opened at $29.73 on Wednesday. News Corporation has a 1 year low of $23.38 and a 1 year high of $30.75. The firm has a 50 day moving average of $29.39 and a 200-day moving average of $28.17. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $16.80 billion, a P/E ratio of 14.29 and a beta of 1.23.

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

News Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on NWSA. Guggenheim restated a “buy” rating and set a $45.00 price target on shares of News in a research note on Thursday, May 15th. Macquarie restated a “neutral” rating and set a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Wall Street Zen cut shares of News from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.