Aberdeen Group plc Grows Holdings in News Corporation $NWSA

Key Points

• Aberdeen Group plc has increased its holdings in News Corporation (NASDAQ:NWSA) by 3.8%, now owning 330,705 shares valued at approximately $9.83 million.
• News Corporation recently reported a quarterly earnings per share of $0.19, matching analysts' expectations, and a revenue of $2.11 billion, slightly above the consensus estimate of $2.09 billion.
• Several investment firms have set new price targets for NWSA, with JPMorgan raising its target from $38.00 to $40.00 and a general average target of $38.62 among analysts.

Aberdeen Group plc increased its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,705 shares of the company's stock after buying an additional 12,222 shares during the period. Aberdeen Group plc owned about 0.06% of News worth $9,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWSA. Caitong International Asset Management Co. Ltd increased its stake in News by 12,084.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock worth $43,000 after buying an additional 1,571 shares during the period. SVB Wealth LLC purchased a new stake in News during the 1st quarter worth $73,000. Horizon Investments LLC increased its stake in News by 7.7% during the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock worth $152,000 after buying an additional 398 shares during the period. Mather Group LLC. increased its stake in News by 10.4% during the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company's stock worth $176,000 after buying an additional 610 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in News by 17.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company's stock worth $184,000 after buying an additional 912 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.57 on Thursday. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The firm has a 50-day simple moving average of $29.18 and a 200 day simple moving average of $28.40. The company has a market cap of $15.01 billion, a PE ratio of 12.77 and a beta of 1.17.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share 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 business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were given a dividend of $0.10 per share. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News's dividend payout ratio is currently 9.62%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NWSA. Macquarie reissued a "neutral" rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of News in a research report on Wednesday, October 8th. One investment 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $38.62.

About News

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.

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