Summit Wealth Partners LLC Invests $234,000 in The Walt Disney Company (NYSE:DIS)

Summit Wealth Partners LLC bought a new stake in The Walt Disney Company (NYSE:DIS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,105 shares of the entertainment giant’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Walt Disney by 0.6% during the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after acquiring an additional 490,681 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after purchasing an additional 1,393,082 shares during the period. FMR LLC boosted its holdings in Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares during the period. Jennison Associates LLC lifted its holdings in Walt Disney by 23.4% during the 4th quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after buying an additional 3,636,742 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Walt Disney by 3.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock worth $1,332,297,000 after buying an additional 454,678 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Buying and Selling

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,412 shares of company stock valued at $44,153,263. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DIS. Jefferies Financial Group began coverage on Walt Disney in a research report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price for the company. Prescient Securities decreased their target price on Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday. Needham & Company LLC upped their target price on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Piper Sandler began coverage on Walt Disney in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Bank of America upped their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six equities 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 company’s stock. According to data from MarketBeat, Walt Disney currently has an average rating of “Moderate Buy” and an average price target of $125.65.

Walt Disney Stock Performance

DIS opened at $110.41 on Thursday. The stock has a market cap of $199.67 billion, a P/E ratio of 40.74, a P/E/G ratio of 2.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $112.26 and its 200 day simple moving average is $100.89. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. As a group, equities analysts anticipate that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

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

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.