Palumbo Wealth Management LLC Sells 2,730 Shares of The Walt Disney Company (NYSE:DIS)

Palumbo Wealth Management LLC decreased its holdings in The Walt Disney Company (NYSE:DIS) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,339 shares of the entertainment giant’s stock after selling 2,730 shares during the period. Palumbo Wealth Management LLC’s holdings in Walt Disney were worth $1,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake 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 buying an additional 490,681 shares during the last quarter. Geode Capital Management LLC boosted its stake in Walt Disney by 3.8% during the third 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 during the last quarter. FMR LLC boosted its stake in Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after buying an additional 2,765,389 shares during the last quarter. Jennison Associates LLC boosted its stake in Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after buying an additional 3,636,742 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,332,297,000 after buying an additional 454,678 shares during the last quarter. 65.71% of the stock is owned by institutional investors.

Walt Disney Trading Up 0.7 %

DIS opened at $110.31 on Friday. The stock’s fifty day moving average is $111.14 and its two-hundred day moving average is $101.78. The company has a market capitalization of $199.42 billion, a P/E ratio of 35.93, a PEG ratio of 1.95 and a beta of 1.42. 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 0.68 and a debt-to-equity ratio of 0.36.

Walt Disney (NYSE:DIS) last released its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. Analysts forecast that The Walt Disney Company will post 5.43 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently disclosed 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. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target for the company. Evercore ISI upped their price objective on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Sanford C. Bernstein upped their price objective on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Macquarie restated a “neutral” rating and set a $110.00 price objective on shares of Walt Disney in a research report on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.85.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 5,000 shares of the 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 owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, 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 worth $44,153,263 in the last ninety days. 0.16% of the stock is owned by company insiders.

Walt Disney Company 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.