IVC Wealth Advisors LLC Lowers Holdings in The Walt Disney Company (NYSE:DIS)

IVC Wealth Advisors LLC trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,570 shares of the entertainment giant’s stock after selling 355 shares during the period. IVC Wealth Advisors LLC’s holdings in Walt Disney were worth $437,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DIS. Vanguard Group Inc. lifted its stake in Walt Disney by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 151,443,502 shares of the entertainment giant’s stock worth $13,673,834,000 after purchasing an additional 1,555,748 shares in the last quarter. Morgan Stanley lifted its stake in Walt Disney by 0.4% during the third quarter. Morgan Stanley now owns 44,318,444 shares of the entertainment giant’s stock worth $3,592,010,000 after purchasing an additional 195,512 shares in the last quarter. Norges Bank acquired a new position in Walt Disney during the fourth quarter worth $1,938,647,000. Charles Schwab Investment Management Inc. lifted its stake in Walt Disney by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,943,052 shares of the entertainment giant’s stock worth $897,758,000 after purchasing an additional 211,397 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Walt Disney by 4.5% during the fourth quarter. Fisher Asset Management LLC now owns 7,204,256 shares of the entertainment giant’s stock worth $650,472,000 after purchasing an additional 309,376 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Shares of DIS stock traded up $0.59 during mid-day trading on Wednesday, hitting $98.59. 5,029,969 shares of the stock were exchanged, compared to its average volume of 11,481,462. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.75. The Walt Disney Company has a 12-month low of $78.73 and a 12-month high of $123.74. The stock’s fifty day simple moving average is $104.17 and its two-hundred day simple moving average is $104.81. The stock has a market capitalization of $179.72 billion, a price-to-earnings ratio of 107.19, a P/E/G ratio of 1.23 and a beta of 1.40.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The firm had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.12 billion. During the same quarter last year, the company posted $0.93 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that The Walt Disney Company will post 4.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DIS shares. JPMorgan Chase & Co. started coverage on Walt Disney in a research note on Thursday, April 11th. They issued an “overweight” rating and a $140.00 price objective on the stock. Daiwa Capital Markets reiterated a “buy” rating and issued a $133.00 price objective on shares of Walt Disney in a research note on Monday, April 1st. Bank of America increased their price objective on Walt Disney from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Argus increased their price objective on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Loop Capital increased their price objective on Walt Disney from $113.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Walt Disney has a consensus rating of “Moderate Buy” and an average price target of $126.44.

Insider Buying and Selling

In related news, EVP Sonia L. Coleman sold 4,400 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $106.00, for a total transaction of $466,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director James P. Gorman acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $106.03 per share, with a total value of $2,120,600.00. Following the purchase, the director now directly owns 20,467 shares of the company’s stock, valued at approximately $2,170,116.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sonia L. Coleman sold 4,400 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $106.00, for a total value of $466,400.00. The disclosure for this sale can be found here. Corporate insiders own 0.10% 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.