Meridian Wealth Management LLC Invests $1.65 Million in The Walt Disney Company (NYSE:DIS)

Meridian Wealth Management LLC acquired a new position in shares of The Walt Disney Company (NYSE:DIS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,100 shares of the entertainment giant's stock, valued at approximately $1,645,000.

Several other large investors also recently made changes to their positions in DIS. Swedbank AB bought a new stake in Walt Disney during the first quarter worth $493,715,000. Farallon Capital Management LLC bought a new stake in shares of Walt Disney in the 2nd quarter worth $355,673,000. International Assets Investment Management LLC grew its stake in shares of Walt Disney by 12,574.4% in the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant's stock worth $329,585,000 after acquiring an additional 3,399,359 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Walt Disney by 114.4% in the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant's stock valued at $414,582,000 after purchasing an additional 2,298,921 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Walt Disney by 663.0% during the first quarter. Janus Henderson Group PLC now owns 1,897,850 shares of the entertainment giant's stock worth $232,217,000 after purchasing an additional 1,649,115 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Price Performance

Shares of DIS stock traded up $0.93 on Friday, reaching $115.65. The company's stock had a trading volume of 10,098,038 shares, compared to its average volume of 12,343,244. The Walt Disney Company has a 12-month low of $83.91 and a 12-month high of $123.74. The stock's 50 day simple moving average is $98.09 and its 200-day simple moving average is $96.78. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $209.44 billion, a P/E ratio of 42.68, a PEG ratio of 2.13 and a beta of 1.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DIS. Deutsche Bank Aktiengesellschaft increased their price target on Walt Disney from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Evercore ISI raised their target price on Walt Disney from $128.00 to $134.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Morgan Stanley boosted their price target on shares of Walt Disney from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Piper Sandler began coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a "neutral" rating and a $95.00 price objective for the company. Finally, UBS Group lowered their price objective on shares of Walt Disney from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Walt Disney has a consensus rating of "Moderate Buy" and an average price target of $123.83.

Insider Buying and Selling at Walt Disney

In other news, EVP Brent Woodford sold 5,000 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the sale, the executive vice president now owns 44,055 shares of the company's stock, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Walt Disney Company Profile

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.