Pictet Asset Management Holding SA Purchases 170,802 Shares of Warner Bros. Discovery, Inc. $WBD

Pictet Asset Management Holding SA raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,212,473 shares of the company’s stock after buying an additional 170,802 shares during the period. Pictet Asset Management Holding SA’s holdings in Warner Bros. Discovery were worth $34,943,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Concord Wealth Partners grew its holdings in shares of Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares during the period. JPL Wealth Management LLC purchased a new position in Warner Bros. Discovery in the third quarter worth $33,000. Rakuten Securities Inc. boosted its position in Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the last quarter. Finally, Crews Bank & Trust grew its stake in Warner Bros. Discovery by 1,242.2% in the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 0.4%

Shares of NASDAQ WBD opened at $27.05 on Thursday. Warner Bros. Discovery, Inc. has a one year low of $8.06 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. The business’s fifty day moving average price is $27.62 and its 200-day moving average price is $26.34. The stock has a market capitalization of $67.08 billion, a PE ratio of 93.28 and a beta of 1.63.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.19). The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The company’s revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted ($0.20) EPS. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the transaction, the director directly owned 95,539 shares in the company, valued at approximately $2,625,411.72. The trade was a 26.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 41,784 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares in the company, valued at $16,821,808.12. The trade was a 6.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WBD shares. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. UBS Group boosted their price target on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Arete Research reaffirmed a “neutral” rating and issued a $31.25 price objective on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Finally, Rothschild & Co Redburn set a $31.00 target price on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.30.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.