180 Wealth Advisors LLC recently made waves by reducing its holdings in The Walt Disney Company (NYSE:DIS) by a significant 68.4% during the second quarter. According to their latest filing with the Securities and Exchange Commission (SEC), the firm sold 11,653 shares, leaving them with just 5,396 shares valued at $521,000.
This adjustment in portfolio is part of a broader trend seen among institutional investors. For instance, Gold Investment Management Ltd. initiated a new position in Disney, and Evolution Advisers Inc. increased its shares by 38.2% during the same period. Collectively, institutional investors hold a substantial 65.71% of Disney’s stock.
On the front of insider actions, Disney Director Calvin McDonald purchased 11,756 shares at an average price of $85.06 each, totaling nearly $1 million. This acquisition signifies strong confidence in the company’s future, especially given that Disney’s stock has experienced fluctuating performance recently. As of the latest trading data, Disney shares moved up $2.49, reaching a price of $88.79.
Disney’s recent financial performance has also been noteworthy. Posting earnings of $1.39 per share for the quarter ending August 7th, Disney surpassed analysts’ expectations of $1.20 per share. Furthermore, its revenue of $23.20 billion was slightly above forecasts, reflecting a 3.9% increase compared to the same quarter last year.
Financial analysts remain cautiously optimistic. While firms like Macquarie, JPMorgan Chase & Co., and Wells Fargo have adjusted their target prices, the consensus continues to hold a “Moderate Buy” for Disney, with an average target price of $118.21.
We would love to hear your thoughts and insights on Disney’s recent financial maneuvers and stock performance. Share your comments below and feel free to spread the magic by sharing this story with friends and fellow Disney enthusiasts!
Source: MarketBeat
