Cornerstone Wealth Management LLC Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Cornerstone Wealth Management LLC cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 1.7% during the first quarter, Holdings Channel.com reports. The fund owned 19,252 shares of the entertainment giant’s stock after selling 337 shares during the period. Cornerstone Wealth Management LLC’s holdings in Walt Disney were worth $1,900,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DIS. Prossimo Advisors LLC raised its holdings in shares of Walt Disney by 1.1% in the 4th quarter. Prossimo Advisors LLC now owns 8,732 shares of the entertainment giant’s stock valued at $972,000 after buying an additional 92 shares during the period. Onefund LLC boosted its holdings in Walt Disney by 2.0% during the 4th quarter. Onefund LLC now owns 4,856 shares of the entertainment giant’s stock valued at $541,000 after acquiring an additional 93 shares during the period. Boston Financial Mangement LLC grew its position in Walt Disney by 1.5% in the 4th quarter. Boston Financial Mangement LLC now owns 6,287 shares of the entertainment giant’s stock valued at $700,000 after acquiring an additional 94 shares in the last quarter. GPM Growth Investors Inc. grew its position in Walt Disney by 4.3% in the 4th quarter. GPM Growth Investors Inc. now owns 2,342 shares of the entertainment giant’s stock valued at $261,000 after acquiring an additional 96 shares in the last quarter. Finally, WealthCare Investment Partners LLC increased its stake in Walt Disney by 4.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 2,460 shares of the entertainment giant’s stock worth $273,000 after purchasing an additional 97 shares during the period. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Down 0.3%

DIS stock opened at $117.72 on Thursday. The stock has a market cap of $211.64 billion, a P/E ratio of 24.07, a PEG ratio of 1.73 and a beta of 1.54. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.34. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $120.50. The company’s 50 day moving average is $103.38 and its two-hundred day moving average is $105.87.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.24. The firm had revenue of $23.62 billion during the quarter, compared to analysts’ expectations of $23.15 billion. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. Walt Disney’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Research analysts expect that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wolfe Research raised shares of Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price objective for the company in a research note on Monday, April 21st. Guggenheim decreased their price target on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on Walt Disney from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Thursday, May 8th. Finally, Barclays boosted their target price on Walt Disney from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Walt Disney currently has a consensus rating of “Moderate Buy” and an average target price of $123.96.

Insider Activity

In other news, EVP Brent Woodford sold 1,000 shares of Walt Disney stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the transaction, the executive vice president now directly owns 46,831 shares of the company’s stock, valued at $5,190,748.04. The trade was a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

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.