Apollon Wealth Management LLC recently announced a slight reduction in its holdings of The Walt Disney Company (NYSE:DIS). According to the latest filing with the Securities and Exchange Commission, the investment firm trimmed 0.5% of its stake, selling 250 shares, resulting in Apollon holding 50,566 shares valued at $5,021,000.
This move by Apollon is part of a broader trend among hedge funds and institutional investors adjusting their positions with Disney. For instance, Gold Investment Management Ltd. and ESL Trust Services LLC, among others, have entered the market, purchasing new stakes in recent quarters. Altogether, 65.71% of Disney’s stock is now collectively owned by these major financial players.
Meanwhile, Disney has been the subject of numerous analyst reports which provide a window into the company’s outlook. Deutsche Bank Aktiengesellschaft recently adjusted Disney’s target price from $130.00 to $115.00, while Needham & Company LLC brought it down from $145.00 to $110.00. Despite these revisions, analysts are still broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $118.13.
Financially, Disney has been performing well. The company posted earnings per share of $1.39 for its latest quarter, surpassing analyst expectations by $0.19, and generated revenues of $23.20 billion, which was slightly above projections. Disney’s net margin was 1.90%, with a return on equity of 8.37%.
In a notable insider move, Director Calvin McDonald recently purchased 11,756 shares of Disney stock, valued at nearly $1,000,000. This transaction indicates a significant vote of confidence in the future of the company.
Given these developments, what do you think about Disney’s stock movements and the changes in analyst ratings? Share your thoughts in the comments below and feel free to encourage discussions with fellow Disney enthusiasts!
Source: [Defense World](https://www.defenseworld.net/2024/08/20/apollon-wealth-management-llc-decreases-holdings-in-the-walt-disney-company-nysedis.html)
