LPL Financial LLC Buys 38,858 Shares of News Corporation $NWS

Key Points

• LPL Financial LLC increased its holdings in News Corporation by 77.1%, acquiring an additional 38,858 shares and bringing its total ownership to 89,231 shares, valued at approximately $2.71 million.
• News Corporation reported a net revenue of $2.11 billion for the last quarter, exceeding analyst estimates, and an EPS of $0.19, slightly above the consensus estimate of $0.18.
• The company announced a semi-annual dividend of $0.10 per share, set to be paid on October 8th, with a dividend yield of 60.0%.

LPL Financial LLC lifted its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 77.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,231 shares of the company's stock after purchasing an additional 38,858 shares during the period. LPL Financial LLC's holdings in News were worth $2,710,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of News by 3,546.2% during the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock worth $29,000 after purchasing an additional 922 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of News during the fourth quarter worth about $50,000. Point72 Hong Kong Ltd purchased a new stake in shares of News during the fourth quarter worth about $96,000. Asset Management One Co. Ltd. boosted its holdings in shares of News by 20.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock worth $97,000 after purchasing an additional 542 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of News by 5,349.4% during the first quarter. Versant Capital Management Inc now owns 4,523 shares of the company's stock worth $137,000 after purchasing an additional 4,440 shares during the period. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of News to a "strong sell" rating in a report on Tuesday, August 12th.

News Stock Performance

Shares of NWS opened at $34.03 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a one year low of $26.25 and a one year high of $35.58. The company has a 50-day simple moving average of $33.51 and a two-hundred day simple moving average of $32.30. The firm has a market capitalization of $19.23 billion, a PE ratio of 16.36 and a beta of 1.23.

News (NASDAQ:NWS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. 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 analyst estimates of $2.09 billion. On average, analysts anticipate that News Corporation will post 1.03 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 60.0%. News's dividend payout ratio (DPR) is currently 9.62%.

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.

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