Charles Schwab Investment Management Inc. Has $194.54 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Warner Bros. Discovery by 9.6%, owning approximately 0.74% of the company with holdings valued at $194.54 million.
• Several institutions, including FMR LLC and Brighton Jones LLC, significantly boosted their investments in Warner Bros. Discovery during the last quarter, reflecting strong interest among hedge funds.
• Analysts have set a consensus rating of "Hold" for Warner Bros. Discovery, with an average price target of $12.84, following several upward revisions by firms like Morgan Stanley and Barclays.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,130,229 shares of the company's stock after purchasing an additional 1,583,067 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of Warner Bros. Discovery worth $194,537,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WBD. Brighton Jones LLC increased its stake in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Warner Bros. Discovery by 5.2% during the 4th quarter. Federated Hermes Inc. now owns 32,118 shares of the company's stock worth $339,000 after purchasing an additional 1,598 shares during the last quarter. FMR LLC increased its stake in shares of Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Warner Bros. Discovery by 17.2% during the 4th quarter. Cerity Partners LLC now owns 246,205 shares of the company's stock worth $2,602,000 after purchasing an additional 36,101 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Warner Bros. Discovery by 3.5% during the 4th quarter. Bank of Nova Scotia now owns 301,335 shares of the company's stock worth $3,185,000 after purchasing an additional 10,315 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on WBD shares. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Morgan Stanley upped their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday. Barclays upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Twelve investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Hold" and an average target price of $12.84.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $10.91 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $13.86. The firm has a fifty day moving average price of $11.52 and a two-hundred day moving average price of $10.33. The company has a market cap of $26.78 billion, a PE ratio of 36.37 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the prior year, the company posted ($4.07) EPS. The business's revenue was up 1.0% on a year-over-year basis. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.

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