Wealth Enhancement Advisory Services LLC Sells 79,687 Shares of News Corporation $NWSA

Wealth Enhancement Advisory Services LLC cut its position in shares of News Corporation (NASDAQ:NWSA) by 63.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 46,094 shares of the company’s stock after selling 79,687 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in News were worth $1,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new position in shares of News during the second quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in News in the third quarter worth $31,000. Root Financial Partners LLC bought a new position in shares of News during the third quarter valued at about $35,000. Advisory Services Network LLC purchased a new position in shares of News in the third quarter worth about $35,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after acquiring an additional 780 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup decreased their price target on News from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Weiss Ratings lowered shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of News from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley set a $32.40 price target on News in a research report on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.02.

News Stock Performance

Shares of NWSA opened at $24.40 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.61. The firm’s 50-day moving average price is $24.24 and its 200-day moving average price is $25.82. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 12.02 and a beta of 0.91.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.30 billion. News had a return on equity of 5.94% and a net margin of 13.35%.The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. Sell-side analysts anticipate that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.10 per share. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s dividend payout ratio is presently 9.85%.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.