News Corporation $NWSA Shares Newly Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue acquired a new stake in shares of News Corporation (NASDAQ:NWSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,149 shares of the company’s stock, valued at approximately $978,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of News during the third quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in shares of News by 282.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock valued at $50,000 after acquiring an additional 1,501 shares during the period. Root Financial Partners LLC raised its stake in News by 96.2% in the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock worth $55,000 after acquiring an additional 1,073 shares during the last quarter. IFP Advisors Inc raised its stake in News by 79.0% in the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock worth $91,000 after acquiring an additional 1,625 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in News by 26.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock worth $207,000 after acquiring an additional 1,739 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 3rd. Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Raymond James Financial began coverage on News in a research note on Monday. They issued an “outperform” rating and a $35.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $35.00 price objective on shares of News in a research note on Thursday, August 6th. Finally, Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

News Stock Down 0.7%

NWSA stock opened at $30.43 on Thursday. The company has a market capitalization of $16.46 billion, a P/E ratio of 29.54 and a beta of 0.97. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.66. The firm’s fifty day simple moving average is $29.71 and its 200-day simple moving average is $27.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51.

News (NASDAQ:NWSA) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. As a group, equities research analysts forecast that News Corporation will post 1.31 earnings per share for the current year.

News Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were given a dividend of $0.10 per share. This represents a yield of 68.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s dividend payout ratio (DPR) is currently 19.42%.

News Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.