Avidian Wealth Enterprises LLC Reduces Stake in The Walt Disney Company (NYSE:DIS)

Avidian Wealth Enterprises LLC reduced its holdings in The Walt Disney Company (NYSE:DIS) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,220 shares of the entertainment giant’s stock after selling 2,929 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Walt Disney were worth $2,029,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Bay Harbor Wealth Management LLC bought a new stake in Walt Disney in the fourth quarter valued at $35,000. Hager Investment Management Services LLC purchased a new stake in shares of Walt Disney in the 4th quarter worth about $43,000. Cedar Mountain Advisors LLC boosted its stake in shares of Walt Disney by 38.1% during the 4th quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock valued at $44,000 after purchasing an additional 110 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Walt Disney during the fourth quarter valued at about $49,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Walt Disney during the fourth quarter valued at about $50,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $917,920.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at $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 valued at $44,153,263 in the last ninety days. 0.16% of the stock is currently owned by company insiders.

Walt Disney Price Performance

NYSE DIS opened at $109.01 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.67 and a current ratio of 0.68. The company has a market capitalization of $197.06 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 1.95 and a beta of 1.42. The stock has a 50-day moving average of $111.71 and a 200 day moving average of $101.39. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. On average, sell-side analysts forecast that The Walt Disney Company will post 5.43 EPS for the current 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 paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s payout ratio is currently 32.57%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Walt Disney in a research report on Wednesday, February 5th. Citigroup reiterated a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a report on Wednesday, January 22nd. Morgan Stanley raised their price objective on Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Six research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.85.

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.