Adirondack Trust Co. Sells 421 Shares of The Walt Disney Company (NYSE:DIS)

Adirondack Trust Co. reduced its holdings in The Walt Disney Company (NYSE:DIS) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,270 shares of the entertainment giant’s stock after selling 421 shares during the quarter. Adirondack Trust Co.’s holdings in Walt Disney were worth $1,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney during the second quarter worth $32,000. Friedenthal Financial bought a new stake in shares of Walt Disney during the fourth quarter worth approximately $49,000. First PREMIER Bank lifted its holdings in Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after buying an additional 256 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Walt Disney during the 4th quarter worth $50,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Walt Disney during the 3rd quarter valued at $51,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on DIS. TD Cowen upped their price objective on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a report on Friday, November 15th. Evercore ISI lifted their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Piper Sandler started coverage on shares of Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. Morgan Stanley raised their price objective on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America 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, November 15th. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and a consensus target price of $125.52.

Insider Activity at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the transaction, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,412 shares of company stock worth $44,153,263. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Stock Up 0.1 %

DIS stock opened at $108.86 on Thursday. The business’s 50 day simple moving average is $112.48 and its 200 day simple moving average is $99.90. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The firm has a market capitalization of $197.14 billion, a PE ratio of 40.17, a PEG ratio of 1.94 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The business had revenue of $22.57 billion during the quarter, compared to the consensus estimate of $22.49 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is presently 36.90%.

About Walt Disney

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.