Gradient Investments LLC Sells 236 Shares of The Walt Disney Company (NYSE:DIS)

Gradient Investments LLC reduced its stake in shares of The Walt Disney Company (NYSE:DIS) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,714 shares of the entertainment giant’s stock after selling 236 shares during the period. Gradient Investments LLC’s holdings in Walt Disney were worth $414,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of DIS. Deerfield Management Company L.P. Series C bought a new stake in Walt Disney in the 2nd quarter worth about $336,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Walt Disney by 30.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 147,183 shares of the entertainment giant’s stock valued at $14,614,000 after acquiring an additional 34,600 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Walt Disney by 9.7% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,411 shares of the entertainment giant’s stock valued at $637,000 after acquiring an additional 565 shares during the last quarter. Ascent Group LLC lifted its holdings in Walt Disney by 16.3% during the second quarter. Ascent Group LLC now owns 29,848 shares of the entertainment giant’s stock worth $2,964,000 after acquiring an additional 4,176 shares during the period. Finally, Annandale Capital LLC boosted its position in Walt Disney by 86.9% in the second quarter. Annandale Capital LLC now owns 68,148 shares of the entertainment giant’s stock worth $6,766,000 after purchasing an additional 31,679 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Brent Woodford sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is currently owned by insiders.

Walt Disney Trading Up 1.1 %

Shares of DIS opened at $112.25 on Friday. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The company has a market capitalization of $203.28 billion, a P/E ratio of 41.42, a P/E/G ratio of 1.95 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $112.46 and its 200 day simple moving average is $100.07.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The firm had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. During the same quarter last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio is presently 36.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DIS shares. Citigroup reiterated a “buy” rating and set a $125.00 target price on shares of Walt Disney in a research note on Wednesday. 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 target price on the stock. Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. TD Cowen upped their price objective on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities raised their target price on Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.52.

Walt Disney Profile

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.