First Bancorp Invests in Disney Stock, Institutional Ownership Rises
First Bancorp Inc ME acquired a new stake in Walt Disney Company's stock in the second quarter, according to its latest SEC disclosure. The institutional investor purchased 4,800 shares of Disney's stock, valued at approximately $462,000.
This is not an isolated instance; several other hedge funds have also modified their holdings of DIS in recent quarters. Swiss RE Ltd acquired a new stake worth $25,000 in the fourth quarter, while Curio Wealth LLC increased its stake by 110.4% during the same period.
The institutional investors own about 65.71% of Walt Disney's stock, according to MarketBeat data. Analysts have been optimistic about Disney's prospects, with Phillip Securities raising its rating from 'moderate buy' to 'strong-buy' and Guggenheim reaffirming a 'buy' rating.