Private Wealth Partners LLC has reduced its stake in The Walt Disney Company (NYSE: DIS) by 16.1% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 74,079 shares of Disney stock, having sold 14,254 shares during this period, bringing the total value of its holdings to approximately $9.2 million.
Other institutional investors have also adjusted their positions in the entertainment giant. Kondo Wealth Advisors Inc. increased its holdings by 1.2%, now owning 7,317 shares worth $904,000 following the purchase of an additional 84 shares. Cornerstone Advisory LLC raised its stake by 1.5%, bringing its total to 5,890 shares valued at $730,000 after acquiring 86 shares. Similarly, Physician Wealth Advisors Inc. increased its position by 3.5%, now holding 2,606 shares worth $323,000 after buying 87 shares.
Childress Capital Advisors LLC and Apollon Financial LLC also increased their stakes by 3.3% and 1.5%, respectively. Childress now owns 2,749 shares valued at $341,000, while Apollon holds 6,086 shares worth $755,000. Overall, institutional investors and hedge funds own approximately 65.71% of Disney’s stock.
Stock Performance and Analyst Ratings
As of Tuesday, shares of Disney opened at $112.28. The stock has experienced a 50-day simple moving average of $114.56 and a 200-day simple moving average of $112.13. Over the past year, Disney’s stock has ranged from a low of $80.10 to a high of $124.69. The company boasts a market capitalization of $201.87 billion, a P/E ratio of 17.60, and a P/E/G ratio of 1.46.
Several research analysts have recently updated their price targets for Disney. On July 9, Barclays raised its price target from $120.00 to $140.00, maintaining an “overweight” rating. Following suit, JPMorgan Chase & Co. increased its target from $130.00 to $138.00, also rating the stock as “overweight.”
Additionally, Chardan Capital reaffirmed a “buy” rating, while Weiss Ratings maintained a “hold (C+)” rating. On September 23, Needham & Company LLC reaffirmed a “buy” rating with a target price of $125.00. Currently, 19 investment analysts rate the stock as a buy, while 8 analysts assign a hold rating. According to data from MarketBeat, Disney has a consensus rating of “Moderate Buy” with a target price averaging $132.90.
Overview of The Walt Disney Company
The Walt Disney Company operates primarily as an entertainment conglomerate, with activities spanning across three segments: Entertainment, Sports, and Experiences. Disney produces and distributes film and television content through various channels, including ABC, Disney+, Freeform, FX, and National Geographic. Additionally, it creates original programming through renowned banners such as Marvel, Pixar, and Lucasfilm.
Investors and analysts are keenly watching Disney’s performance amid a changing entertainment landscape, where streaming services and traditional media continue to evolve. The company’s strategic decisions in adapting to these trends will likely influence its stock performance in the coming months.
