Bernard Wealth Management Corp. Purchases Shares of 23,529 Walmart Inc. (NYSE:WMT)

Bernard Wealth Management Corp. acquired a new stake in shares of Walmart Inc. (NYSE:WMT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 23,529 shares of the retailer's stock, valued at approximately $2,126,000. Walmart makes up about 1.0% of Bernard Wealth Management Corp.'s holdings, making the stock its 21st biggest position.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Walmart during the 4th quarter valued at approximately $25,000. Horizon Financial Services LLC grew its holdings in Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after buying an additional 262 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Walmart during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in 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 approximately $41,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Walmart

In other Walmart news, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $97.00, for a total value of $2,716,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,064,455 shares of the company's stock, valued at approximately $103,252,135. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were 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 directly owns 3,558,247 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 177,583 shares of company stock worth $16,701,404. Insiders own 45.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WMT. JPMorgan Chase & Co. increased their price objective on shares of Walmart from $97.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, February 10th. KeyCorp raised their target price on shares of Walmart from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, February 21st. UBS Group cut their target price on shares of Walmart from $112.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler raised their target price on shares of Walmart from $93.00 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Truist Financial raised their target price on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $104.94.

Walmart Stock Down 0.4%

Walmart stock traded down $0.35 during trading hours on Wednesday, reaching $97.23. The stock had a trading volume of 11,097,947 shares, compared to its average volume of 17,831,732. The company has a market cap of $777.93 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 4.42 and a beta of 0.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23. The business's 50 day moving average price is $92.77 and its 200-day moving average price is $93.15. Walmart Inc. has a 52 week low of $64.16 and a 52 week high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The business had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company's revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart's payout ratio is 40.17%.

About Walmart

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.