Beverly Hills Private Wealth LLC Has $3.87 Million Position in News Corporation $NWS

Beverly Hills Private Wealth LLC boosted its holdings in News Corporation (NASDAQ:NWS) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,846 shares of the company’s stock after acquiring an additional 4,284 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in News were worth $3,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NorthRock Partners LLC bought a new stake in News in the second quarter valued at about $27,000. SVB Wealth LLC bought a new stake in News in the first quarter valued at about $27,000. First Horizon Advisors Inc. increased its stake in News by 3,546.2% in the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the period. Resona Asset Management Co. Ltd. increased its stake in News by 75.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company’s stock valued at $29,000 after acquiring an additional 414 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in News by 150.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company’s stock valued at $58,000 after acquiring an additional 1,156 shares during the period. Institutional investors own 14.63% of the company’s stock.

Wall Street Analysts Forecast Growth

NWS has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, News currently has an average rating of “Buy”.

News Trading Up 0.2%

Shares of NASDAQ NWS opened at $29.53 on Monday. News Corporation has a 1-year low of $26.25 and a 1-year high of $35.58. The company has a market cap of $16.68 billion, a PE ratio of 14.20 and a beta of 1.17. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $32.85 and a two-hundred day moving average of $32.54.

News (NASDAQ:NWS) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. News had a net margin of 13.21% and a return on equity of 5.66%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. As a group, equities analysts expect that News Corporation will post 1.03 earnings per share for the current fiscal year.

News Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a dividend yield of 63.0%. News’s payout ratio is currently 9.62%.

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.