Meridian Wealth Management LLC Reduces Position in The Walt Disney Company (NYSE:DIS)

Meridian Wealth Management LLC lessened its holdings in shares of The Walt Disney Company (NYSE:DIS) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,472 shares of the entertainment giant’s stock after selling 628 shares during the quarter. Meridian Wealth Management LLC’s holdings in Walt Disney were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of DIS. FPC Investment Advisory Inc. purchased a new position in shares of Walt Disney during the 4th quarter worth $28,000. Midwest Capital Advisors LLC purchased a new position in shares of Walt Disney during the 4th quarter worth $34,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Walt Disney during the 4th quarter worth $35,000. Hager Investment Management Services LLC purchased a new position in shares of Walt Disney during the 4th quarter worth $43,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Walt Disney by 38.1% during the 4th quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock worth $44,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

DIS has been the topic of several analyst reports. Sanford C. Bernstein lifted their price target on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Evercore ISI lifted their target price on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Morgan Stanley lifted their target price on shares of Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Walt Disney in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group initiated coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 target price on the stock. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.44.

Insider Activity at Walt Disney

In related news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Walt Disney Stock Performance

Walt Disney stock opened at $112.69 on Tuesday. The company’s 50-day moving average price is $110.70 and its 200-day moving average price is $103.66. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $203.72 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 1.80 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. On average, equities research analysts forecast that The Walt Disney Company will post 5.47 EPS 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. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend was Monday, December 16th. Walt Disney’s dividend payout ratio is presently 32.57%.

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.