NewEdge Advisors LLC Acquires 21,068 Shares of News Corporation $NWSA

Key Points

• NewEdge Advisors LLC increased its stake in News Corporation (NASDAQ:NWSA) by 23.1%, owning 112,381 shares valued at $3,059,000 after acquiring an additional 21,068 shares.
• Analysts have varying ratings for the stock, with Guggenheim maintaining a "buy" rating and a price target of $45, while Wall Street Zen downgraded it to a "hold" rating.
• News Corporation declared a half-year dividend of $0.10, indicating a dividend yield of 68.0%, to be paid on October 8th to stockholders recorded by September 10th.

NewEdge Advisors LLC increased its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,381 shares of the company's stock after buying an additional 21,068 shares during the quarter. NewEdge Advisors LLC's holdings in News were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of News by 103.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock worth $635,000 after buying an additional 11,898 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of News by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company's stock worth $122,290,000 after purchasing an additional 72,438 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of News by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company's stock valued at $83,873,000 after buying an additional 39,342 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in News by 11.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock worth $1,133,000 after purchasing an additional 4,332 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of News by 133.1% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 208,218 shares of the company's stock valued at $5,668,000 after acquiring an additional 118,908 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Stock Performance

Shares of NWSA stock traded down $0.29 on Friday, reaching $29.23. The stock had a trading volume of 4,751,894 shares, compared to its average volume of 3,604,052. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $29.44 and its two-hundred day moving average is $28.17. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 14.05 and a beta of 1.18. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.75.

News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The business's revenue was up .8% compared to the same quarter last year. On average, research analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

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

Wall Street Analyst Weigh In

NWSA has been the subject of a number of analyst reports. Guggenheim reissued a "buy" rating and issued a $45.00 price target on shares of News in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their target price on News from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Macquarie reaffirmed a "neutral" rating and issued a $32.70 price target on shares of News in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, News has an average rating of "Buy" and a consensus target price of $38.62.

News Company 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.