Prosperity Wealth Management Inc. Decreases Holdings in The Walt Disney Company (NYSE:DIS)

Prosperity Wealth Management Inc. reduced its position in The Walt Disney Company (NYSE:DIS) by 38.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,894 shares of the entertainment giant’s stock after selling 2,432 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Walt Disney were worth $352,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DIS. Planned Solutions Inc. acquired a new stake in shares of Walt Disney in the fourth quarter worth $26,000. Dark Forest Capital Management LP acquired a new stake in shares of Walt Disney in the first quarter valued at about $28,000. Worth Asset Management LLC purchased a new stake in shares of Walt Disney during the first quarter worth about $29,000. Fortis Group Advisors LLC acquired a new position in shares of Walt Disney during the 3rd quarter worth about $30,000. Finally, MBM Wealth Consultants LLC boosted its holdings in Walt Disney by 197.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 366 shares of the entertainment giant’s stock worth $33,000 after buying an additional 243 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Daiwa Capital Markets reaffirmed a “buy” rating and set a $133.00 price objective on shares of Walt Disney in a research note on Monday, April 1st. The Goldman Sachs Group cut their price objective on shares of Walt Disney from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Wells Fargo & Company upped their price target on Walt Disney from $115.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC lifted their price objective on Walt Disney from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.54.

Walt Disney Stock Performance

Walt Disney stock traded up $0.93 during midday trading on Wednesday, hitting $113.88. 9,291,419 shares of the company’s stock were exchanged, compared to its average volume of 10,451,374. The firm’s 50 day simple moving average is $113.59 and its 200 day simple moving average is $98.14. The Walt Disney Company has a 12-month low of $78.73 and a 12-month high of $123.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84. The stock has a market cap of $208.89 billion, a price-to-earnings ratio of 70.30, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, beating the consensus estimate of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The firm had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $23.71 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that The Walt Disney Company will post 4.66 EPS for the current year.

Walt Disney Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a yield of 0.5%. Walt Disney’s dividend payout ratio (DPR) is 18.52%.

Insider Buying and Selling at Walt Disney

In other news, EVP Sonia L. Coleman sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the completion of the sale, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

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.