Providence Capital Advisors LLC Sells 276 Shares of Walmart Inc. (NYSE:WMT)

Providence Capital Advisors LLC cut its stake in Walmart Inc. (NYSE:WMT) by 18.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,224 shares of the retailer’s stock after selling 276 shares during the period. Providence Capital Advisors LLC’s holdings in Walmart were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. AHL Investment Management Inc. grew its position in shares of Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after buying an additional 15,785 shares during the period. Core Wealth Advisors Inc. grew its position in shares of Walmart by 38.9% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock worth $237,000 after buying an additional 420 shares during the period. Liberty Wealth Management LLC acquired a new stake in shares of Walmart during the 1st quarter worth approximately $270,000. Commerce Bank grew its position in shares of Walmart by 189.4% during the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock worth $55,213,000 after buying an additional 600,521 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Walmart by 290.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock worth $16,250,000 after buying an additional 200,947 shares during the period. 26.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WMT. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. Barclays boosted their price objective on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Bank of America lifted their price target on shares of Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Guggenheim lifted their price target on shares of Walmart from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Walmart currently has an average rating of “Moderate Buy” and a consensus price target of $79.76.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the sale, the chief executive officer now owns 3,960,402 shares of the company’s stock, valued at approximately $270,851,892.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the sale, the chief executive officer now owns 3,960,402 shares of the company’s stock, valued at approximately $270,851,892.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder S Robson Walton sold 359,616 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $78.25, for a total transaction of $28,139,952.00. Following the sale, the insider now directly owns 603,989,702 shares of the company’s stock, valued at approximately $47,262,194,181.50. The disclosure for this sale can be found here. Insiders sold a total of 12,369,039 shares of company stock worth $959,826,083 in the last quarter. 45.58% of the stock is owned by insiders.

Walmart Stock Up 1.6 %

WMT stock opened at $80.33 on Tuesday. The stock has a market capitalization of $646.14 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 4.03 and a beta of 0.51. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $81.02. The firm has a 50-day moving average price of $73.65 and a 200-day moving average price of $67.02.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, equities research analysts anticipate that Walmart Inc. will post 2.44 EPS for the current fiscal year.

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.