New Wave Wealth Advisors LLC Buys Shares of 307,540 Walmart Inc. (NYSE:WMT)

New Wave Wealth Advisors LLC purchased a new stake in shares of Walmart Inc. (NYSE:WMT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 307,540 shares of the retailer’s stock, valued at approximately $20,824,000. Walmart accounts for about 11.2% of New Wave Wealth Advisors LLC’s portfolio, making the stock its largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Able Wealth Management LLC acquired a new stake in Walmart in the fourth quarter valued at $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Walmart in the 4th quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new position in Walmart during the 4th quarter valued at about $48,000. EntryPoint Capital LLC acquired a new position in Walmart during the first quarter worth about $25,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Activity

In related news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $81.04, for a total value of $1,063,650.00. Following the completion of the sale, the executive vice president now owns 606,165 shares in the company, valued at $49,123,611.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John R. Furner sold 13,125 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $81.04, for a total transaction of $1,063,650.00. Following the transaction, the executive vice president now owns 606,165 shares of the company’s stock, valued at $49,123,611.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Bartlett sold 2,398 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $69.50, for a total value of $166,661.00. Following the completion of the sale, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The disclosure for this sale can be found here. In the last three months, insiders sold 12,334,670 shares of company stock worth $958,025,027. 45.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WMT has been the subject of a number of analyst reports. HSBC boosted their price target on Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Jefferies Financial Group upped their target price on shares of Walmart from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. KeyCorp lifted their price target on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on shares of Walmart from $81.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Walmart presently has a consensus rating of “Buy” and a consensus price target of $81.62.

Walmart Stock Performance

Shares of WMT stock opened at $80.75 on Tuesday. The company’s fifty day moving average price is $74.64 and its two-hundred day moving average price is $67.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. The firm has a market capitalization of $649.09 billion, a P/E ratio of 34.56, a P/E/G ratio of 4.00 and a beta of 0.51. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $81.60.

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

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.