Edge Wealth Management LLC Has $7.86 Million Stock Position in The Walt Disney Company (NYSE:DIS)

Edge Wealth Management LLC reduced its holdings in The Walt Disney Company (NYSE:DIS) by 4.5% in the 4th quarter, Holdings Channel reports. The fund owned 70,545 shares of the entertainment giant’s stock after selling 3,329 shares during the period. Walt Disney makes up about 1.6% of Edge Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Edge Wealth Management LLC’s holdings in Walt Disney were worth $7,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Farmers Trust Co. grew its stake in Walt Disney by 1.1% in the 4th quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock valued at $945,000 after buying an additional 92 shares during the last quarter. Smithfield Trust Co lifted its position in Walt Disney by 0.5% during the third quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock worth $1,809,000 after acquiring an additional 102 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its holdings in shares of Walt Disney by 0.9% during the third quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after acquiring an additional 106 shares during the period. Connable Office Inc. grew its position in shares of Walt Disney by 0.3% in the third quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock valued at $3,371,000 after purchasing an additional 108 shares during the last quarter. Finally, Cozad Asset Management Inc. increased its stake in shares of Walt Disney by 1.9% during the third quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock worth $579,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Down 1.7 %

Shares of NYSE:DIS opened at $106.38 on Friday. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74. The company has a market capitalization of $192.65 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The company has a fifty day moving average of $111.77 and a 200-day moving average of $99.58.

Walt Disney (NYSE:DIS) last issued its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The business had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $22.49 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is 36.90%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a report on Tuesday, October 1st. Morgan Stanley upped their price target on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler initiated coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Redburn Atlantic raised shares of Walt Disney from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $147.00 in a report on Tuesday, January 7th. Finally, Evercore ISI raised their target price on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and an average target price of $125.54.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the sale, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock worth $44,153,263 in the last ninety days. Company insiders own 0.10% of the company’s stock.

About Walt Disney

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.