Walmart Inc. (NYSE:WMT) is Riggs Asset Managment Co. Inc.'s 10th Largest Position

Riggs Asset Managment Co. Inc. lifted its position in Walmart Inc. (NYSE:WMT - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,211 shares of the retailer's stock after purchasing an additional 5,880 shares during the period. Walmart comprises about 2.0% of Riggs Asset Managment Co. Inc.'s portfolio, making the stock its 10th biggest holding. Riggs Asset Managment Co. Inc.'s holdings in Walmart were worth $7,130,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Horizon Financial Services LLC raised its position in shares of Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after buying an additional 262 shares during the last quarter. EQ Wealth Advisors LLC acquired a new stake in shares of Walmart in the first quarter valued at about $35,000. Mizuho Bank Ltd. acquired a new stake in shares of Walmart in the fourth quarter valued at about $41,000. Nexus Investment Management ULC acquired a new stake in shares of Walmart in the first quarter valued at about $49,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Walmart in the fourth quarter valued at about $53,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WMT has been the subject of a number of analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $115.00 price objective on shares of Walmart in a report on Monday, June 9th. KeyCorp upped their price objective on shares of Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Truist Financial upped their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a report on Friday, May 16th. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a report on Monday, May 5th. Finally, Citigroup reissued a "buy" rating on shares of Walmart in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $106.67.

Insider Activity

In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $95.85, for a total transaction of $1,258,031.25. Following the completion of the sale, the executive vice president owned 945,434 shares of the company's stock, valued at approximately $90,619,848.90. This represents a 1.37% 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, 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 transaction of $380,960.00. Following the sale, the executive vice president directly owned 1,060,455 shares of the company's stock, valued at approximately $100,997,734.20. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,711 shares of company stock worth $13,710,319. Insiders own 45.58% of the company's stock.

Walmart Price Performance

WMT stock traded down $1.42 during trading on Tuesday, hitting $97.93. The stock had a trading volume of 7,869,182 shares, compared to its average volume of 18,009,428. The company's 50 day moving average price is $97.22 and its two-hundred day moving average price is $94.41. Walmart Inc. has a 1-year low of $66.67 and a 1-year high of $105.30. The stock has a market cap of $781.52 billion, a price-to-earnings ratio of 41.85, a price-to-earnings-growth ratio of 4.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78.

Walmart (NYSE:WMT - Get Free Report) last announced 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 net margin of 2.75% and a return on equity of 21.76%. The firm had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

The business also recently disclosed 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. This represents a dividend yield of 0.95%. The ex-dividend date was Friday, May 9th. Walmart's dividend 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.