Eastern Bank Has $106.63 Million Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• Eastern Bank reduced its holdings in Walmart Inc. by 9.6%, selling 129,297 shares, resulting in them owning 1,214,643 shares, worth approximately $106.6 million.
• Several analysts have given Walmart shares a consensus rating of "Moderate Buy", with target prices ranging from $103.00 to $120.00.
• Walmart's CEO sold 19,416 shares at an average price of $95.58, decreasing his ownership by 0.44% while still holding approximately $421 million worth of shares.

Eastern Bank lowered its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,214,643 shares of the retailer's stock after selling 129,297 shares during the period. Walmart accounts for approximately 2.1% of Eastern Bank's investment portfolio, making the stock its 11th biggest holding. Eastern Bank's holdings in Walmart were worth $106,633,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WMT. World Investment Advisors boosted its holdings in shares of Walmart by 7.6% in the 4th 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 in the last quarter. Full Sail Capital LLC boosted its holdings in shares of Walmart by 6.6% in the 4th quarter. Full Sail Capital LLC now owns 8,702 shares of the retailer's stock valued at $786,000 after purchasing an additional 541 shares in the last quarter. Leslie Global Wealth LLC boosted its holdings in shares of Walmart by 22.0% in the 4th quarter. Leslie Global Wealth LLC now owns 3,154 shares of the retailer's stock valued at $285,000 after purchasing an additional 568 shares in the last quarter. Monument Capital Management boosted its holdings in shares of Walmart by 94.2% in the 1st quarter. Monument Capital Management now owns 55,004 shares of the retailer's stock valued at $4,829,000 after purchasing an additional 26,685 shares in the last quarter. Finally, Milestone Asset Management LLC boosted its holdings in shares of Walmart by 156.7% in the 1st quarter. Milestone Asset Management LLC now owns 54,659 shares of the retailer's stock valued at $4,799,000 after purchasing an additional 33,370 shares in the last quarter. Institutional investors own 26.76% of the company's stock.

Insider Buying and Selling at Walmart

In other news, EVP Kathryn J. Mclay sold 4,000 shares of Walmart stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.14, for a total transaction of $380,560.00. Following the completion of the sale, the executive vice president owned 1,056,455 shares in the company, valued at $100,511,128.70. The trade was a 0.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel J. Bartlett sold 1,744 shares of Walmart stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total transaction of $166,726.40. Following the transaction, the executive vice president directly owned 649,233 shares in the company, valued at $62,066,674.80. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,112 shares of company stock worth $14,078,027 over the last ninety days. Company insiders own 45.58% of the company's stock.

Walmart Stock Down 0.8%

WMT stock traded down $0.74 during mid-day trading on Wednesday, hitting $97.59. 13,844,039 shares of the company were exchanged, compared to its average volume of 12,240,789. The company has a market capitalization of $778.81 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 4.73 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 Inc. has a twelve month low of $66.67 and a twelve month high of $105.30. The firm has a fifty day simple moving average of $96.78 and a 200 day simple moving average of $94.93.

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, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. On average, research analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

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

Analyst Ratings Changes

WMT has been the topic of several recent research reports. Wall Street Zen raised Walmart from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Telsey Advisory Group reissued an "outperform" rating and set a $115.00 price objective on shares of Walmart in a report on Monday, June 9th. Oppenheimer raised their price objective on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Truist Financial raised their price objective on Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, KeyCorp raised their target price on Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Two equities 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. Based on data from MarketBeat, Walmart presently has an average rating of "Moderate Buy" and a consensus target price of $106.67.

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.