First Commonwealth Financial Corp PA Cuts Holdings in The Walt Disney Company (NYSE:DIS)

First Commonwealth Financial Corp PA trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,254 shares of the entertainment giant’s stock after selling 552 shares during the period. First Commonwealth Financial Corp PA’s holdings in Walt Disney were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in Walt Disney by 30.8% during the 1st quarter. Advisors Asset Management Inc. now owns 25,987 shares of the entertainment giant’s stock valued at $3,180,000 after purchasing an additional 6,118 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Walt Disney by 16.6% during the 1st quarter. Axxcess Wealth Management LLC now owns 65,673 shares of the entertainment giant’s stock valued at $8,036,000 after buying an additional 9,346 shares during the period. Wellington Wealth Strategies LLC. bought a new position in shares of Walt Disney during the 1st quarter valued at $380,000. CreativeOne Wealth LLC lifted its holdings in shares of Walt Disney by 34.0% during the 1st quarter. CreativeOne Wealth LLC now owns 10,891 shares of the entertainment giant’s stock valued at $1,333,000 after buying an additional 2,763 shares during the period. Finally, Delap Wealth Advisory LLC bought a new position in shares of Walt Disney during the 1st quarter valued at $393,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Trading Up 0.9 %

NYSE DIS traded up $0.76 during trading hours on Friday, hitting $89.97. 11,293,993 shares of the company were exchanged, compared to its average volume of 11,324,292. The stock has a 50-day moving average price of $99.65 and a 200 day moving average price of $105.16. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 0.38. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The stock has a market cap of $164.02 billion, a PE ratio of 97.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $22.12 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that The Walt Disney Company will post 4.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DIS. Wells Fargo & Company increased their price target on Walt Disney from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Guggenheim increased their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Barclays lowered their price target on Walt Disney from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Macquarie raised their target price on Walt Disney from $104.00 to $107.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Loop Capital raised their target price on Walt Disney from $113.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.54.

Insider Activity

In other Walt Disney news, Director James P. Gorman bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the purchase, the director now owns 20,467 shares in the company, valued at approximately $2,170,116.01. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Walt Disney news, Director James P. Gorman bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the purchase, the director now owns 20,467 shares in the company, valued at approximately $2,170,116.01. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sonia L. Coleman sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The disclosure for this sale can be found here. 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.