Towerpoint Wealth LLC Buys Shares of 2,068 The Walt Disney Company (NYSE:DIS)

Towerpoint Wealth LLC purchased a new position in The Walt Disney Company (NYSE:DIS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,068 shares of the entertainment giant’s stock, valued at approximately $230,000.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in Walt Disney by 0.6% in the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after buying an additional 490,681 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after acquiring an additional 1,393,082 shares during the last quarter. FMR LLC raised its holdings in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after acquiring an additional 2,765,389 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Walt Disney by 3.1% during the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock worth $1,417,958,000 after acquiring an additional 425,438 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Walt Disney by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock valued at $1,332,297,000 after purchasing an additional 454,678 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Guggenheim raised their price target on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group initiated 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 on the stock. Sanford C. Bernstein boosted their target price on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Wells Fargo & Company increased their price target on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities lifted their price objective on shares of Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.54.

Walt Disney Stock Performance

Walt Disney stock traded down $0.37 during mid-day trading on Thursday, reaching $107.81. The company had a trading volume of 468,836 shares, compared to its average volume of 6,048,814. The company has a 50 day moving average of $111.58 and a 200-day moving average of $99.51. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The firm has a market cap of $195.24 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 1.94 and a beta of 1.43.

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

Walt Disney Increases Dividend

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

Insiders Place Their Bets

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brent Woodford sold 8,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock worth $44,153,263 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

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.