Financial Gravity Asset Management Inc. Purchases Shares of 47,110 Walmart Inc. (NYSE:WMT)

Financial Gravity Asset Management Inc. purchased a new position in Walmart Inc. (NYSE:WMT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 47,110 shares of the retailer's stock, valued at approximately $4,136,000. Walmart comprises about 0.9% of Financial Gravity Asset Management Inc.'s portfolio, making the stock its 27th biggest holding.

Other institutional investors also recently made changes to their positions in the company. World Investment Advisors increased its stake in Walmart by 7.6% in the fourth quarter. World Investment Advisors now owns 271,515 shares of the retailer's stock valued at $24,532,000 after purchasing an additional 19,233 shares during the last quarter. GWN Securities Inc. purchased a new stake in Walmart during the fourth quarter valued at about $4,658,000. Full Sail Capital LLC grew its position in Walmart by 6.6% during the fourth quarter. Full Sail Capital LLC now owns 8,702 shares of the retailer's stock valued at $786,000 after acquiring an additional 541 shares during the period. Leslie Global Wealth LLC grew its position in Walmart by 22.0% during the fourth quarter. Leslie Global Wealth LLC now owns 3,154 shares of the retailer's stock valued at $285,000 after acquiring an additional 568 shares during the period. Finally, Scalar Gauge Management LLC grew its position in Walmart by 76.9% during the fourth quarter. Scalar Gauge Management LLC now owns 69,000 shares of the retailer's stock valued at $6,234,000 after acquiring an additional 30,000 shares during the period. 26.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Walmart

In other news, CEO C Douglas Mcmillon sold 19,416 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $97.19, for a total transaction of $1,887,041.04. Following the sale, the chief executive officer directly owned 4,431,783 shares in the company, valued at approximately $430,724,989.77. This represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $95.24, for a total value of $380,960.00. Following the sale, the executive vice president owned 1,060,455 shares in the company, valued at $100,997,734.20. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 142,711 shares of company stock worth $13,710,319. Corporate insiders own 45.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Mizuho boosted their price target on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Raymond James Financial lowered their price target on Walmart from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Truist Financial upped their target price on Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.67.

Walmart Stock Down 2.0%

NYSE WMT traded down $1.89 on Thursday, hitting $94.92. 18,834,936 shares of the stock traded hands, compared to its average volume of 18,115,602. The stock has a 50-day moving average of $97.24 and a 200 day moving average of $94.45. Walmart Inc. has a twelve month low of $66.67 and a twelve month high of $105.30. The company has a market capitalization of $757.48 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 4.66 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47.

Walmart (NYSE:WMT - Get Free Report) last announced 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. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The firm had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Walmart's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were given a dividend of $0.235 per share. This represents a dividend yield of 0.95%. The ex-dividend date was Friday, May 9th. 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.