Lorne Steinberg Wealth Management Inc. Buys 1,337 Shares of The Walt Disney Company (NYSE:DIS)

Lorne Steinberg Wealth Management Inc. grew its stake in The Walt Disney Company (NYSE:DIS) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 64,805 shares of the entertainment giant’s stock after acquiring an additional 1,337 shares during the period. Walt Disney accounts for 2.1% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 18th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Walt Disney were worth $7,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Farmers Trust Co. lifted its position in shares of Walt Disney by 1.1% in the 4th quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock worth $945,000 after purchasing an additional 92 shares during the period. Pathway Financial Advisors LLC lifted its position in shares of Walt Disney by 2.7% in the 4th quarter. Pathway Financial Advisors LLC now owns 3,471 shares of the entertainment giant’s stock worth $386,000 after purchasing an additional 92 shares during the period. Prossimo Advisors LLC lifted its position in shares of Walt Disney by 1.1% in the 4th quarter. Prossimo Advisors LLC now owns 8,732 shares of the entertainment giant’s stock worth $972,000 after purchasing an additional 92 shares during the period. Saxon Interests Inc. lifted its position in shares of Walt Disney by 2.8% in the 4th quarter. Saxon Interests Inc. now owns 3,412 shares of the entertainment giant’s stock worth $380,000 after purchasing an additional 93 shares during the period. Finally, Abundance Wealth Counselors lifted its position in shares of Walt Disney by 1.0% in the 4th quarter. Abundance Wealth Counselors now owns 9,662 shares of the entertainment giant’s stock worth $1,076,000 after purchasing an additional 94 shares during the period. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brent Woodford sold 8,000 shares of the company’s 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 sale, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DIS shares. Macquarie reiterated a “neutral” rating and issued a $110.00 price objective on shares of Walt Disney in a research note on Monday, January 6th. Jefferies Financial Group started coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Walt Disney in a research note on Wednesday, February 5th. Citigroup reiterated a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Wednesday, January 22nd. Finally, Prescient Securities lowered their price objective on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.85.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $109.48 on Wednesday. The company’s 50-day moving average is $110.95 and its 200 day moving average is $102.13. 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 $197.91 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.42. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share 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, equities research analysts forecast that The Walt Disney Company will post 5.43 earnings per share for the current year.

Walt Disney Increases Dividend

The firm 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. The ex-dividend date was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio is 32.57%.

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.