Connecticut Wealth Management LLC Boosts Holdings in Walmart Inc. (NYSE:WMT)

Connecticut Wealth Management LLC boosted its holdings in Walmart Inc. (NYSE:WMT) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,404 shares of the retailer’s stock after purchasing an additional 225 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Walmart were worth $1,301,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WMT. FPC Investment Advisory Inc. purchased a new position in shares of Walmart in the 4th quarter worth $25,000. Horizon Financial Services LLC lifted its stake in shares of Walmart by 1,007.7% in the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after purchasing an additional 262 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Walmart in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Walmart during the 4th quarter valued at approximately $37,000. Finally, Mizuho Bank Ltd. purchased a new stake in Walmart during the 4th quarter valued at $41,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on WMT. JPMorgan Chase & Co. lifted their price objective on shares of Walmart from $97.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler lifted their price target on shares of Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Telsey Advisory Group reiterated an “outperform” rating on shares of Walmart in a report on Wednesday. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Walmart in a research report on Monday, February 24th. Finally, Oppenheimer upped their target price on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.94.

Insider Activity

In other Walmart news, EVP Daniel J. Bartlett sold 1,760 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total transaction of $166,883.20. Following the sale, the executive vice president now owns 520,275 shares in the company, valued at approximately $49,332,475.50. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $96.95, for a total value of $2,823,571.80. Following the completion of the transaction, the chief executive officer now owns 3,558,247 shares of the company’s stock, valued at approximately $344,972,046.65. The trade was a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 166,035 shares of company stock valued at $15,548,082 over the last ninety days. 45.58% of the stock is currently owned by insiders.

Walmart Trading Down 1.4%

Walmart stock opened at $96.48 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The stock has a market cap of $771.89 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. The stock has a 50-day moving average of $91.95 and a two-hundred day moving average of $92.72. Walmart Inc. has a one year low of $64.16 and a one year high of $105.30.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $165.61 billion for the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, research analysts anticipate that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s payout ratio is currently 40.17%.

Walmart 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.