Eastern Bank Acquires 372 Shares of The Walt Disney Company (NYSE:DIS)

Eastern Bank raised its stake in shares of The Walt Disney Company (NYSE:DIS) by 1.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,781 shares of the entertainment giant’s stock after purchasing an additional 372 shares during the quarter. Eastern Bank’s holdings in Walt Disney were worth $3,427,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DIS. Thoroughbred Financial Services LLC lifted its holdings in shares of Walt Disney by 71.6% in the second quarter. Thoroughbred Financial Services LLC now owns 10,794 shares of the entertainment giant’s stock valued at $1,071,000 after purchasing an additional 4,502 shares in the last quarter. Lyell Wealth Management LP boosted its position in Walt Disney by 1.3% during the 2nd quarter. Lyell Wealth Management LP now owns 45,484 shares of the entertainment giant’s stock worth $4,516,000 after acquiring an additional 575 shares during the last quarter. Williams Financial LLC bought a new position in shares of Walt Disney during the 2nd quarter worth approximately $1,109,000. Diversify Wealth Management LLC acquired a new stake in shares of Walt Disney in the second quarter valued at approximately $2,254,000. Finally, Hanson & Doremus Investment Management boosted its holdings in Walt Disney by 6.5% during the second quarter. Hanson & Doremus Investment Management now owns 48,656 shares of the entertainment giant’s stock worth $4,831,000 after purchasing an additional 2,982 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

Shares of NYSE:DIS traded down $0.57 on Monday, reaching $108.08. 4,382,684 shares of the company’s stock were exchanged, compared to its average volume of 6,527,829. The company has a market capitalization of $195.73 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.03 and a beta of 1.43. The company has a fifty day moving average of $111.11 and a 200-day moving average of $99.43. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. 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 issued its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is 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%.

Insider Transactions at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction 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 approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,412 shares of company stock worth $44,153,263. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DIS. Needham & Company LLC boosted their price target on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Macquarie reaffirmed a “neutral” rating and set a $110.00 price target on shares of Walt Disney in a research report on Monday, January 6th. Rosenblatt Securities increased their price objective on Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a report on Monday, December 16th. Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, Piper Sandler began coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.54.

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.