Pictet Asset Management Holding SA Sells 12,745 Shares of News Co. (NASDAQ:NWS)

Pictet Asset Management Holding SA lowered its position in shares of News Co. (NASDAQ:NWS) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,747 shares of the company’s stock after selling 12,745 shares during the quarter. Pictet Asset Management Holding SA’s holdings in News were worth $297,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. iA Global Asset Management Inc. raised its position in shares of News by 13.9% during the 4th quarter. iA Global Asset Management Inc. now owns 3,195 shares of the company’s stock valued at $97,000 after acquiring an additional 390 shares during the last quarter. American Century Companies Inc. boosted its holdings in News by 1.5% during the fourth quarter. American Century Companies Inc. now owns 29,896 shares of the company’s stock worth $910,000 after buying an additional 429 shares during the last quarter. Stifel Financial Corp grew its position in shares of News by 1.8% during the 3rd quarter. Stifel Financial Corp now owns 27,063 shares of the company’s stock worth $756,000 after buying an additional 479 shares during the period. Asset Management One Co. Ltd. raised its position in shares of News by 22.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock valued at $82,000 after acquiring an additional 497 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in News by 123.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 517 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

NWS stock opened at $29.58 on Friday. News Co. has a 1-year low of $23.99 and a 1-year high of $35.25. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.78 billion, a PE ratio of 40.52 and a beta of 1.26. The business’s 50-day moving average price is $31.51 and its two-hundred day moving average price is $30.70.

News (NASDAQ:NWS) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. As a group, research analysts forecast that News Co. will post 1.03 earnings per share for the current year.

News Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th were issued a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date was Wednesday, March 12th. News’s dividend payout ratio (DPR) is presently 27.40%.

Analyst Ratings Changes

Separately, Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a report on Friday, January 31st.

News 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.