PMG Wealth Management Inc. Acquires Shares of 2,054 The Walt Disney Company (NYSE:DIS)

PMG Wealth Management Inc. bought a new position in The Walt Disney Company (NYSE:DIS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,054 shares of the entertainment giant’s stock, valued at approximately $229,000.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Walt Disney by 0.6% during the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock valued at $7,463,978,000 after purchasing an additional 490,681 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Walt Disney by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after buying an additional 1,393,082 shares in the last quarter. FMR LLC lifted its holdings in shares of Walt Disney by 8.7% in the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after acquiring an additional 2,765,389 shares during the last quarter. Jennison Associates LLC grew its position in Walt Disney by 23.4% in the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after acquiring an additional 3,636,742 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Walt Disney by 3.4% during 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 worth $1,332,297,000 after acquiring an additional 454,678 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

DIS stock opened at $108.62 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The business has a 50-day moving average price of $110.70 and a 200 day moving average price of $102.39. The company has a market capitalization of $196.37 billion, a P/E ratio of 35.38, a PEG ratio of 1.81 and a beta of 1.42.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. As a group, equities research analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio is currently 32.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DIS shares. Bank of America raised their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Loop Capital boosted their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Sanford C. Bernstein increased their target price on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $135.00 price target on shares of Walt Disney in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.44.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% 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.