The Walt Disney Company (NYSE:DIS) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC cut its stake in The Walt Disney Company (NYSE:DIS) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,545 shares of the entertainment giant’s stock after selling 3,329 shares during the period. Walt Disney accounts for 1.6% of Edge Wealth Management LLC’s portfolio, making the stock its 24th largest position. Edge Wealth Management LLC’s holdings in Walt Disney were worth $7,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DIS. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney in the 2nd quarter valued at approximately $32,000. Friedenthal Financial acquired a new position in Walt Disney in the fourth quarter worth $49,000. First PREMIER Bank increased its stake in Walt Disney by 98.1% during the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after purchasing an additional 256 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Walt Disney during the third quarter worth $51,000. Finally, Birch Capital Management LLC bought a new position in shares of Walt Disney in the 4th quarter worth about $56,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Stock Down 1.7 %

DIS opened at $106.38 on Friday. The stock’s fifty day moving average is $111.77 and its 200-day moving average is $99.58. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. The company has a market capitalization of $192.65 billion, a PE ratio of 39.25, a P/E/G 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.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $22.57 billion during the quarter, compared to the consensus estimate of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. Walt Disney’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. 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 declared a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend was Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s payout ratio is 36.90%.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price objective for the company. Guggenheim upped their target price on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Needham & Company LLC raised their price target on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Evercore ISI upped their price objective on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Sanford C. Bernstein raised their target price on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Five research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.54.

Insider Activity

In other news, EVP Brent Woodford sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief executive officer now owns 226,767 shares of the company’s stock, 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. In the last 90 days, insiders sold 385,412 shares of company stock worth $44,153,263. 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.