Cornerstone Wealth Management LLC Purchases 82,300 Shares of Walmart Inc. (NYSE:WMT)

Cornerstone Wealth Management LLC grew its position in Walmart Inc. (NYSE:WMTFree Report) by 217.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,131 shares of the retailer’s stock after purchasing an additional 82,300 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Walmart were worth $7,228,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwest Capital Management Inc increased its position in Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after acquiring an additional 293 shares during the period. Partnership Wealth Management LLC bought a new position in Walmart during the fourth quarter worth $30,000. Able Wealth Management LLC bought a new position in Walmart during the fourth quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Walmart during the fourth quarter worth $32,000. Finally, Signature Resources Capital Management LLC bought a new position in Walmart during the fourth quarter worth $35,000. Institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.08, for a total transaction of $177,240.00. Following the completion of the sale, the executive vice president now directly owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.08, for a total transaction of $177,240.00. Following the completion of the sale, the executive vice president now directly owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $60.03, for a total value of $1,748,313.72. Following the sale, the chief executive officer now directly owns 4,018,650 shares of the company’s stock, valued at $241,239,559.50. The disclosure for this sale can be found here. In the last three months, insiders sold 14,525,340 shares of company stock valued at $953,023,399. 45.58% of the stock is currently owned by insiders.

Walmart Stock Up 2.6 %

Shares of NYSE WMT opened at $70.04 on Friday. The firm’s 50-day simple moving average is $64.93 and its 200 day simple moving average is $59.90. The company has a market cap of $563.37 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 3.93 and a beta of 0.50. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $70.15.

Walmart (NYSE:WMTGet Free Report) last announced its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. On average, research analysts expect that Walmart Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WMT. HSBC boosted their target price on shares of Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Truist Financial boosted their target price on shares of Walmart from $60.00 to $64.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Barclays boosted their price target on shares of Walmart from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Telsey Advisory Group boosted their price target on shares of Walmart from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Walmart from $64.33 to $73.00 and gave the company a “buy” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.47.

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About Walmart

(Free Report)

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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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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