Kovack Advisors Inc. Sells 1,447 Shares of The Walt Disney Company (NYSE:DIS)

Kovack Advisors Inc. trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,839 shares of the entertainment giant’s stock after selling 1,447 shares during the period. Kovack Advisors Inc.’s holdings in Walt Disney were worth $1,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Planned Solutions Inc. acquired a new stake in shares of Walt Disney in the 4th quarter valued at approximately $26,000. Gold Investment Management Ltd. acquired a new position in Walt Disney during the fourth quarter worth $28,000. Fortis Group Advisors LLC bought a new stake in Walt Disney during the third quarter worth $30,000. Stone House Investment Management LLC lifted its stake in Walt Disney by 355.3% in the fourth quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock valued at $31,000 after acquiring an additional 270 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new position in shares of Walt Disney in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Price Performance

DIS stock traded up $0.62 during midday trading on Thursday, reaching $98.61. The company had a trading volume of 5,029,969 shares, compared to its average volume of 9,798,412. The company has a market capitalization of $179.77 billion, a price-to-earnings ratio of 107.16, a price-to-earnings-growth ratio of 1.22 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69. The Walt Disney Company has a 1-year low of $78.73 and a 1-year high of $123.74. The stock has a 50 day moving average price of $104.17 and a 200-day moving average price of $104.81.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.12 billion. During the same quarter last year, the business posted $0.93 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts expect that The Walt Disney Company will post 4.75 earnings per share for the current year.

Insider Activity at Walt Disney

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

Wall Street Analysts Forecast Growth

DIS has been the subject of several recent analyst reports. Barclays cut their target price on shares of Walt Disney from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Walt Disney in a research report on Wednesday. Redburn Atlantic raised Walt Disney from a “sell” rating to a “neutral” rating and set a $100.00 target price on the stock in a report on Tuesday, May 21st. Evercore ISI dropped their price target on Walt Disney from $130.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. One equities research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

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.