Wealth Enhancement Advisory Services LLC Raises Stock Holdings in News Corporation $NWSA

Key Points

• Wealth Enhancement Advisory Services LLC has significantly increased its holdings in News Corporation by 379.6%, now owning 111,960 shares valued at approximately $3.33 million.
• Multiple hedge funds, including Sentry Investment Management LLC and Caitong International Asset Management Co. Ltd, have also made substantial investments in News Corporation during the first quarter.
• News Corporation recently announced a dividend of $0.10 per share, with a dividend yield of 70.0%, set to be paid on October 8th.

Wealth Enhancement Advisory Services LLC increased its position in News Corporation (NASDAQ:NWSA - Free Report) by 379.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,960 shares of the company's stock after acquiring an additional 88,616 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in News were worth $3,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NWSA. Sentry Investment Management LLC purchased a new position in shares of News during the 1st quarter valued at about $36,000. Caitong International Asset Management Co. Ltd increased its stake in shares of News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after purchasing an additional 1,571 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of News in the 1st quarter valued at about $73,000. CX Institutional acquired a new position in News in the first quarter valued at approximately $76,000. Finally, Versant Capital Management Inc lifted its holdings in News by 714.9% in the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after acquiring an additional 3,889 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NWSA. JPMorgan Chase & Co. upped their price target on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Macquarie restated a "neutral" rating and set a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $38.62.

News Stock Performance

NASDAQ:NWSA opened at $30.45 on Friday. The firm has a market capitalization of $17.20 billion, a PE ratio of 14.64 and a beta of 1.18. The business's fifty day moving average price is $29.57 and its 200 day moving average price is $28.33. 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 12 month low of $23.38 and a 12 month high of $30.94.

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

News Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. 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 presently 9.62%.

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.

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