Beaird Harris Wealth Management LLC Sells 271 Shares of The Walt Disney Company (NYSE:DIS)

Beaird Harris Wealth Management LLC reduced its position in The Walt Disney Company (NYSE:DIS) by 45.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 328 shares of the entertainment giant’s stock after selling 271 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Walt Disney were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Synovus Financial Corp lifted its holdings in shares of Walt Disney by 0.3% during the 3rd quarter. Synovus Financial Corp now owns 78,401 shares of the entertainment giant’s stock valued at $7,542,000 after purchasing an additional 249 shares during the last quarter. PVG Asset Management Corp acquired a new position in Walt Disney during the 3rd quarter valued at about $211,000. Wilmington Savings Fund Society FSB raised its stake in Walt Disney by 16.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 80,278 shares of the entertainment giant’s stock valued at $7,722,000 after buying an additional 11,568 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in Walt Disney in the third quarter worth about $9,018,000. Finally, World Investment Advisors LLC boosted its holdings in Walt Disney by 357.7% in the third quarter. World Investment Advisors LLC now owns 58,367 shares of the entertainment giant’s stock worth $5,614,000 after acquiring an additional 45,615 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

NYSE DIS opened at $113.32 on Friday. The stock has a market capitalization of $205.22 billion, a price-to-earnings ratio of 41.82, a PEG ratio of 2.05 and a beta of 1.42. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The stock has a 50-day moving average of $104.68 and a 200 day moving average of $98.14. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.

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

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be paid a $0.50 dividend. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. The ex-dividend date is Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, December 11th. The stock was 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. This trade represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $42,667,242.84. Following the transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock valued at $44,153,263 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DIS shares. Evercore ISI increased their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Macquarie raised their price target on shares of Walt Disney from $91.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Piper Sandler began coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Bank of America raised their target price on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Needham & Company LLC boosted their price target on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.67.

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.