Sumitomo Mitsui Trust Group Inc. Has $56.13 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,897,479 shares of the company’s stock after selling 255,194 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Warner Bros. Discovery worth $56,125,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after acquiring an additional 2,352 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD stock opened at $21.04 on Tuesday. The stock has a 50-day moving average price of $16.59 and a 200-day moving average price of $12.58. Warner Bros. Discovery, Inc. has a 1-year low of $7.49 and a 1-year high of $21.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market cap of $52.09 billion, a PE ratio of 70.14, a price-to-earnings-growth ratio of 2.57 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company posted ($4.07) EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Warner Bros. Discovery from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Morgan Stanley raised their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Guggenheim raised their target price on Warner Bros. Discovery from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Barclays set a $20.00 target price on Warner Bros. Discovery in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.68.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 250,000 shares of the stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.