Walmart Inc. (NYSE:WMT) Holdings Reduced by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC cut its stake in Walmart Inc. (NYSE:WMT) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,427 shares of the retailer’s stock after selling 2,221 shares during the quarter. Walmart comprises approximately 2.3% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Providence Wealth Advisors LLC’s holdings in Walmart were worth $2,938,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WMT. Pinion Investment Advisors LLC increased its holdings in shares of Walmart by 1.1% during the 2nd quarter. Pinion Investment Advisors LLC now owns 23,148 shares of the retailer’s stock worth $1,567,000 after buying an additional 241 shares during the last quarter. Clear Investment Research LLC boosted its position in shares of Walmart by 30.4% during the second quarter. Clear Investment Research LLC now owns 2,394 shares of the retailer’s stock worth $162,000 after buying an additional 558 shares during the period. Wilkins Investment Counsel Inc. grew its stake in shares of Walmart by 7.0% in the second quarter. Wilkins Investment Counsel Inc. now owns 14,214 shares of the retailer’s stock valued at $962,000 after buying an additional 930 shares in the last quarter. Spectrum Wealth Counsel LLC grew its position in Walmart by 7.0% in the 2nd quarter. Spectrum Wealth Counsel LLC now owns 2,477 shares of the retailer’s stock valued at $168,000 after acquiring an additional 162 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in Walmart during the 2nd quarter worth approximately $4,272,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insider Activity

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Walmart news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $68.20, for a total transaction of $895,125.00. Following the completion of the transaction, the executive vice president now owns 645,540 shares in the company, valued at $44,025,828. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The disclosure for this sale can be found here. In the last three months, insiders sold 10,203,360 shares of company stock worth $788,678,803. Company insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WMT shares. Jefferies Financial Group lifted their price objective on Walmart from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. DA Davidson raised their price target on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $80.00 price target on shares of Walmart in a report on Friday, August 16th. Telsey Advisory Group increased their price objective on Walmart from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Guggenheim boosted their target price on Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.99.

Walmart Stock Up 1.2 %

WMT opened at $80.60 on Friday. The business has a 50 day simple moving average of $72.51 and a 200-day simple moving average of $66.14. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $80.68. The stock has a market capitalization of $647.88 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. On average, equities analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Walmart Company Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.