Independence Financial Advisors LLC Invests $336,000 in Walmart Inc. (NYSE:WMT)

Key Points

• Independence Financial Advisors LLC has invested $336,000 in Walmart Inc., acquiring 3,831 shares during the first quarter.
• Several large investors have significantly increased their stakes in Walmart, with GAMMA Investing LLC raising its stake by 9,896.9%.
• Wall Street analysts are optimistic about Walmart, with a majority rating it as a "buy" and an average target price of $106.67.

Independence Financial Advisors LLC purchased a new position in shares of Walmart Inc. (NYSE:WMT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,831 shares of the retailer's stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WMT. Bear Mountain Capital Inc. increased its position in shares of Walmart by 98.2% during the 1st quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after purchasing an additional 167 shares during the period. EQ Wealth Advisors LLC acquired a new position in shares of Walmart during the 1st quarter valued at $35,000. Lipe & Dalton increased its position in shares of Walmart by 95.2% during the 1st quarter. Lipe & Dalton now owns 410 shares of the retailer's stock valued at $36,000 after purchasing an additional 200 shares during the period. Mizuho Bank Ltd. acquired a new position in shares of Walmart during the 4th quarter valued at $41,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Walmart during the 1st quarter valued at $49,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Down 0.8%

Shares of NYSE:WMT traded down $0.74 during midday trading on Wednesday, hitting $97.59. 13,844,039 shares of the stock were exchanged, compared to its average volume of 12,240,789. Walmart Inc. has a 52-week low of $66.67 and a 52-week high of $105.30. The business's fifty day simple moving average is $96.78 and its two-hundred day simple moving average is $94.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The company has a market capitalization of $778.81 billion, a PE ratio of 41.71, a P/E/G ratio of 4.73 and a beta of 0.68.

Walmart (NYSE:WMT - Get Free Report) last posted its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share 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 company had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same period last year, the company earned $0.60 earnings per share. The business's revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a yield of 0.95%. Walmart's dividend payout ratio (DPR) is currently 40.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WMT shares. Wall Street Zen upgraded Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Mizuho raised their price objective on Walmart from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. Telsey Advisory Group reissued an "outperform" rating and set a $115.00 price objective on shares of Walmart in a research note on Monday, June 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $103.00 price objective (up from $102.00) on shares of Walmart in a research note on Monday, June 9th. Finally, Robert W. Baird raised their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, thirty have issued 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 a consensus price target of $106.67.

Insider Buying and Selling

In other news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $95.85, for a total value of $1,258,031.25. Following the transaction, the executive vice president directly owned 945,434 shares in the company, valued at approximately $90,619,848.90. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,148 shares of Walmart stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $96.58, for a total value of $2,815,113.84. Following the completion of the transaction, the chief executive officer owned 4,451,199 shares in the company, valued at $429,896,799.42. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,112 shares of company stock valued at $14,078,027 in the last three months. 45.58% of the stock is currently owned by corporate insiders.

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.