Bartlett & CO. Wealth Management LLC Cuts Stake in The Walt Disney Company (NYSE:DIS)

Bartlett & CO. Wealth Management LLC lowered its stake in shares of The Walt Disney Company (NYSE:DIS) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,258 shares of the entertainment giant’s stock after selling 38,734 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Walt Disney were worth $23,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. William B. Walkup & Associates Inc. purchased a new stake in shares of Walt Disney during the second quarter worth approximately $32,000. Friedenthal Financial purchased a new stake in shares of Walt Disney during the 4th quarter worth $49,000. First PREMIER Bank grew its stake in shares of Walt Disney by 98.1% during the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Walt Disney in the fourth quarter valued at $50,000. Finally, FSA Wealth Management LLC acquired a new stake in Walt Disney in the third quarter valued at $51,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Stock Performance

Shares of DIS opened at $108.86 on Thursday. The company has a market capitalization of $197.14 billion, a PE ratio of 40.17, a P/E/G ratio of 1.94 and a beta of 1.43. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74. The company has a 50-day simple moving average of $112.35 and a 200-day simple moving average of $99.83. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. Equities research analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is 36.90%.

Insider Activity at Walt Disney

In related news, EVP Brent Woodford sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. The trade was a 10.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the company’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 transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,412 shares of company stock valued at $44,153,263. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DIS shares. Piper Sandler started coverage on Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. TD Cowen increased their price target on shares of Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group started coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price objective for the company. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Macquarie reissued a “neutral” rating and issued a $110.00 price target on shares of Walt Disney in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.52.

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.