Abacus Planning Group Inc. Sells 3,964 Shares of The Walt Disney Company $DIS

Key Points

• Abacus Planning Group Inc. significantly reduced its stake in The Walt Disney Company by 50.7%, selling 3,964 shares to hold 3,855 shares valued at approximately $478,000.
• Walt Disney reported its quarterly earnings, with an EPS of $1.61, surpassing analyst estimates of $1.45, despite revenue of $23.65 billion coming in slightly below expectations.
• Several analysts have upgraded their ratings for Disney, with price targets raised, indicating a consensus of a "Moderate Buy" and an average price target of $131.18.

Abacus Planning Group Inc. lowered its position in The Walt Disney Company (NYSE:DIS - Free Report) by 50.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,855 shares of the entertainment giant's stock after selling 3,964 shares during the period. Walt Disney comprises about 0.2% of Abacus Planning Group Inc.'s portfolio, making the stock its 29th largest position. Abacus Planning Group Inc.'s holdings in Walt Disney were worth $478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DIS. Brighton Jones LLC raised its holdings in shares of Walt Disney by 7.7% in the fourth quarter. Brighton Jones LLC now owns 26,767 shares of the entertainment giant's stock valued at $2,980,000 after purchasing an additional 1,904 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Walt Disney in the fourth quarter valued at about $39,000. Ameriflex Group Inc. purchased a new stake in shares of Walt Disney in the fourth quarter valued at about $233,000. Heck Capital Advisors LLC purchased a new stake in shares of Walt Disney in the fourth quarter valued at about $436,000. Finally, Sculati Wealth Management LLC raised its holdings in shares of Walt Disney by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 18,801 shares of the entertainment giant's stock valued at $2,093,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company's stock.

Walt Disney Price Performance

DIS stock opened at $112.44 on Tuesday. The firm has a 50 day moving average of $117.56 and a 200-day moving average of $109.22. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The Walt Disney Company has a 12 month low of $80.10 and a 12 month high of $124.69. The firm has a market capitalization of $202.16 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.65 and a beta of 1.55.

Walt Disney (NYSE:DIS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The company had revenue of $23.65 billion during the quarter, compared to analyst estimates of $23.69 billion. During the same period last year, the business earned $1.39 earnings per share. Walt Disney's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DIS has been the subject of several analyst reports. Chardan Capital reiterated a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. UBS Group raised their price objective on shares of Walt Disney from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Loop Capital raised their price objective on shares of Walt Disney from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Guggenheim raised their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Morgan Stanley raised their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

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.

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