Ables Iannone Moore & Associates Inc. has taken a significant step by investing in shares of The Walt Disney Company (NYSE:DIS). According to their recent SEC filing, the institutional investor acquired 4,354 shares during the 4th quarter, valued at approximately $393,000. This move showcases the continued confidence in Disney’s expansive entertainment empire.
Other hedge funds have also adjusted their Disney holdings recently. Vanguard Group Inc. saw a 1.0% increase in its position during the same period, now owning over 151 million shares worth a staggering $13.67 billion. Morgan Stanley and Trian Fund Management L.P. have made notable adjustments, with increases in their shares to 44.3 million and 32.8 million, respectively. Additionally, Northern Trust Corp. boosted its stake by 10.6%. With 24.8 million shares valued at over $2 billion, these investments reflect a robust faith in Disney’s financial health and future potential.
Meanwhile, market analysts have set new price targets for Disney’s stock, with Raymond James and Morgan Stanley providing optimistic evaluations. Raymond James raised their target from $112 to $128, while Morgan Stanley moved their estimate from $110 to $135. Analysts from JPMorgan, Deutsche Bank, and Macquarie also shared positive outlooks, contributing to a consensus rating of “Moderate Buy” with an average price target of $126.29.
Insider activities offer further insight, with Director James P. Gorman purchasing 20,000 shares at an average price of $106.03, amounting to over $2 million. This acquisition underscores the confidence within Disney’s leadership. On the other hand, EVP Sonia L. Coleman sold 4,400 shares, valued at $466,400, demonstrating the dynamic nature of insider trading activities.
Disney’s stock has shown resilience, opening at $101.55 on a recent Tuesday, with a year-high of $123.74 and a low of $78.73. The entertainment giant reported a robust earnings per share (EPS) of $1.21 last quarter, surpassing the estimates. This reflects the company’s steadfast performance amidst a challenging market environment.
The Walt Disney Company remains a global juggernaut, operating through segments encompassing entertainment, sports, and experiences. Under its banner, it churns out beloved content across notable subsidiaries and brands including ABC, Disney, FX, Marvel, National Geographic, Lucasfilm, Pixar, and more, firmly entrenching itself as a cornerstone of global entertainment.
What are your thoughts on this exciting move by Ables Iannone Moore & Associates and the other hedge funds? Share your opinions in the comments below and don’t forget to spread the word!
Source: Defense World
