Spire Wealth Management Decreases Position in Walmart Inc. (NYSE:WMT)

Spire Wealth Management trimmed its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,020 shares of the retailer's stock after selling 19,941 shares during the quarter. Spire Wealth Management's holdings in Walmart were worth $13,082,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WMT. Horizon Financial Services LLC boosted its position in Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock worth $26,000 after purchasing an additional 262 shares in the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Walmart in the first quarter valued at $35,000. Noble Wealth Management PBC purchased a new stake in shares of Walmart in the fourth quarter valued at $37,000. Mizuho Bank Ltd. purchased a new stake in shares of Walmart in the fourth quarter valued at $41,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Walmart in the first quarter valued at $49,000. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Stock Performance

Shares of NYSE:WMT opened at $97.24 on Thursday. The firm has a market capitalization of $776.02 billion, a PE ratio of 41.56, a P/E/G ratio of 4.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. The business has a 50-day moving average of $96.65 and a two-hundred day moving average of $94.20. Walmart Inc. has a 12 month low of $66.67 and a 12 month high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last posted its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The business had revenue of $165.61 billion during the quarter, compared to analyst estimates of $164.53 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Announces Dividend

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

Insider Activity at Walmart

In related news, EVP John D. Rainey sold 2,200 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $88.66, for a total value of $195,052.00. Following the completion of the transaction, the executive vice president now owns 398,024 shares of the company's stock, valued at approximately $35,288,807.84. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kathryn J. Mclay sold 28,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were 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 $103,252,135. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,295 shares of company stock valued at $11,801,762. Insiders own 45.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WMT shares. Telsey Advisory Group restated an "outperform" rating and issued a $115.00 price objective on shares of Walmart in a research report on Monday, June 9th. Citigroup restated a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. KeyCorp upped their price objective on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. DA Davidson restated a "buy" rating and issued a $117.00 price objective on shares of Walmart in a research report on Friday, May 16th. Finally, Robert W. Baird upped their price objective on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $106.50.

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.

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