Family Firm Inc. Invests $73,000 in News Co. (NASDAQ:NWSA)

Family Firm Inc. acquired a new stake in shares of News Co. (NASDAQ:NWSA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,634 shares of the company’s stock, valued at approximately $73,000.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of News in the 1st quarter valued at $34,000. Lindbrook Capital LLC grew its stake in News by 153.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,635 shares of the company’s stock valued at $40,000 after purchasing an additional 989 shares during the last quarter. Principal Securities Inc. bought a new position in News in the fourth quarter worth about $45,000. Covestor Ltd lifted its position in shares of News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after buying an additional 962 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of News in the 1st quarter valued at about $77,000. Institutional investors own 66.97% of the company’s stock.

News Stock Up 1.1 %

News stock opened at $28.14 on Friday. The business has a fifty day moving average price of $27.41 and a 200-day moving average price of $26.36. News Co. has a 1-year low of $19.25 and a 1-year high of $28.62. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 78.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 1.25.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. News had a return on equity of 4.28% and a net margin of 2.09%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that News Co. will post 0.67 EPS for the current fiscal year.

News Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a yield of 0.7%. News’s payout ratio is 55.56%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price objective on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.