Beta Wealth Group Inc. Has $720,000 Stock Holdings in The Walt Disney Company (NYSE:DIS)

Key Points

• Beta Wealth Group Inc. significantly reduced its stake in The Walt Disney Company by 87.1%, now owning only 7,297 shares valued at $720,000 after selling 49,357 shares during the 1st quarter.
• Several other hedge funds have increased their positions in Walt Disney, including J. Safra Sarasin Holding AG, which raised its holdings by 8.1%, bringing its total to 222,747 shares worth approximately $21.98 million.
• Walt Disney's stock has received mixed ratings, with analysts giving it a consensus rating of "Moderate Buy" and an average target price of $128.70, while Morgan Stanley recently raised its price target to $120.00.

Beta Wealth Group Inc. lessened its stake in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 87.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,297 shares of the entertainment giant's stock after selling 49,357 shares during the quarter. Beta Wealth Group Inc.'s holdings in Walt Disney were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DIS. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Walt Disney by 1,900.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,735,961 shares of the entertainment giant's stock worth $638,699,000 after purchasing an additional 5,449,158 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Walt Disney by 21.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant's stock worth $1,878,142,000 after purchasing an additional 3,016,339 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Walt Disney by 1,080.7% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant's stock worth $277,993,000 after purchasing an additional 2,578,004 shares during the period. GAMMA Investing LLC grew its stake in shares of Walt Disney by 10,567.3% during the first quarter. GAMMA Investing LLC now owns 2,450,702 shares of the entertainment giant's stock worth $241,884,000 after purchasing an additional 2,427,728 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Walt Disney by 10.4% during the fourth quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock worth $2,476,693,000 after purchasing an additional 2,096,431 shares during the period. Institutional investors own 65.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DIS. Wall Street Zen cut Walt Disney from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Wolfe Research raised Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 target price for the company in a research note on Monday, April 21st. Guggenheim boosted their target price on Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Loop Capital boosted their target price on Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Morgan Stanley boosted their target price on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $129.83.

Insider Activity at Walt Disney

In other news, EVP Brent Woodford sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the transaction, the executive vice president owned 46,831 shares of the company's stock, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Walt Disney Stock Up 2.4%

DIS traded up $2.79 on Monday, hitting $119.38. 8,833,063 shares of the company were exchanged, compared to its average volume of 7,022,347. The stock's fifty day moving average is $118.76 and its 200-day moving average is $107.73. The company has a market cap of $214.62 billion, a PE ratio of 24.41, a PEG ratio of 1.71 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.67. The Walt Disney Company has a 12 month low of $80.10 and a 12 month high of $124.69.

Walt Disney (NYSE:DIS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The firm had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

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.