Asset Dedication LLC Purchases 19,324 Shares of Walmart Inc. (NYSE:WMT)

Asset Dedication LLC grew its position in Walmart Inc. (NYSE:WMT) by 19.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,414 shares of the retailer’s stock after buying an additional 19,324 shares during the quarter. Asset Dedication LLC’s holdings in Walmart were worth $8,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chris Bulman Inc bought a new position in Walmart in the second quarter worth approximately $273,000. Strategic Financial Concepts LLC increased its holdings in shares of Walmart by 5,376.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,305,751 shares of the retailer’s stock valued at $88,412,000 after acquiring an additional 1,281,910 shares during the period. Umpqua Bank raised its position in shares of Walmart by 29.3% in the 2nd quarter. Umpqua Bank now owns 6,792 shares of the retailer’s stock worth $460,000 after acquiring an additional 1,541 shares in the last quarter. Oxbow Advisors LLC lifted its stake in shares of Walmart by 3.7% during the 2nd quarter. Oxbow Advisors LLC now owns 19,619 shares of the retailer’s stock worth $1,328,000 after purchasing an additional 703 shares during the last quarter. Finally, SVB Wealth LLC boosted its position in Walmart by 44.8% during the second quarter. SVB Wealth LLC now owns 214,490 shares of the retailer’s stock valued at $14,523,000 after purchasing an additional 66,313 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Analysts Set New Price Targets

WMT has been the subject of a number of recent research reports. KeyCorp boosted their target price on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Citigroup raised their price objective on Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial upped their target price on Walmart from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley raised their price target on Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Walmart presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.99.

Insider Activity at Walmart

In other Walmart news, major shareholder Alice L. Walton sold 3,633,800 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $66.80, for a total transaction of $242,737,840.00. Following the completion of the sale, the insider now directly owns 636,898,811 shares in the company, valued at approximately $42,544,840,574.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Walmart news, major shareholder Alice L. Walton sold 3,633,800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $66.80, for a total value of $242,737,840.00. Following the transaction, the insider now owns 636,898,811 shares in the company, valued at approximately $42,544,840,574.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Chojnowski sold 8,791 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the sale, the senior vice president now directly owns 94,415 shares of the company’s stock, valued at approximately $6,420,220. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,144,237 shares of company stock valued at $730,497,016. 45.58% of the stock is owned by corporate insiders.

Walmart Stock Down 0.4 %

Walmart stock opened at $76.64 on Friday. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $77.81. The stock has a market capitalization of $616.05 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 3.87 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. The business has a 50 day simple moving average of $71.45 and a 200-day simple moving average of $65.43.

Walmart (NYSE:WMT) last posted its quarterly earnings data 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. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Walmart Inc. will post 2.44 EPS 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.