Hartford Investment Management Co. Lowers Stake in The Walt Disney Company (NYSE:DIS)

Hartford Investment Management Co. cut its stake in The Walt Disney Company (NYSE:DIS) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 111,928 shares of the entertainment giant’s stock after selling 2,166 shares during the quarter. Hartford Investment Management Co.’s holdings in Walt Disney were worth $12,463,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DIS. Bay Harbor Wealth Management LLC purchased a new position in Walt Disney in the fourth quarter worth $35,000. Hager Investment Management Services LLC purchased a new position in Walt Disney during the 4th quarter worth $43,000. Cedar Mountain Advisors LLC increased its position in Walt Disney by 38.1% during the 4th quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock valued at $44,000 after buying an additional 110 shares in the last quarter. Friedenthal Financial purchased a new stake in Walt Disney in the fourth quarter valued at about $49,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Walt Disney in the fourth quarter worth about $50,000. 65.71% of the stock is owned by institutional investors.

Walt Disney Stock Down 0.2 %

DIS stock opened at $109.01 on Wednesday. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. 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 firm’s fifty day moving average is $111.71 and its 200 day moving average is $101.39. The firm has a market cap of $197.06 billion, a PE ratio of 35.51, a P/E/G ratio of 1.95 and a beta of 1.42.

Walt Disney (NYSE:DIS) last posted 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 9.95% and a net margin of 6.07%. On average, research analysts forecast that The Walt Disney Company will post 5.43 EPS 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 $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Ratings Changes

DIS has been the topic of several recent analyst reports. Prescient Securities cut their price objective on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Cowen upped 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. Macquarie reaffirmed a “neutral” rating and issued a $110.00 price target on shares of Walt Disney in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.85.

Insider Activity

In related news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value 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. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the business’s 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 sale, the chief executive officer now owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock worth $44,153,263 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

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.