Alpha Cubed Investments LLC raised its holdings in shares of Walmart Inc (NYSE:WMT) by 460.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,850 shares of the retailer’s stock after acquiring an additional 17,130 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Walmart were worth $2,304,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Clarfeld Financial Advisors LLC bought a new stake in Walmart in the fourth quarter valued at $25,000. C J Advisory Inc bought a new stake in Walmart in the first quarter valued at $29,000. Financial Gravity Wealth Inc. bought a new stake in shares of Walmart during the first quarter worth $35,000. WP Advisors LLC bought a new stake in shares of Walmart during the first quarter worth $37,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Walmart during the first quarter worth $38,000. 30.05% of the stock is currently owned by institutional investors.
WMT has been the topic of several research analyst reports. Royal Bank of Canada set a $112.00 target price on Walmart and gave the stock a “neutral” rating in a report on Thursday. UBS Group increased their target price on Walmart from $105.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Zacks Investment Research raised Walmart from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Wednesday, May 22nd. Gordon Haskett upgraded Walmart from an “accumulate” rating to a “buy” rating and increased their price target for the stock from $115.00 to $125.00 in a report on Thursday. Finally, JPMorgan Chase & Co. set a $115.00 price objective on Walmart and gave the stock a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $111.08.
Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 15th. The retailer reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.05. The business had revenue of $130.40 billion for the quarter, compared to analyst estimates of $129.32 billion. Walmart had a return on equity of 18.66% and a net margin of 1.62%. Walmart’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. As a group, equities research analysts expect that Walmart Inc will post 4.84 EPS for the current fiscal year.
In other Walmart news, major shareholder Jim C. Walton sold 820,736 shares of Walmart stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $101.45, for a total transaction of $83,263,667.20. Following the transaction, the insider now directly owns 17,502,080 shares of the company’s stock, valued at approximately $1,775,586,016. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director S Robson Walton sold 1,322,329 shares of Walmart stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $102.04, for a total value of $134,930,451.16. Following the transaction, the director now directly owns 3,347,511 shares in the company, valued at $341,580,022.44. The disclosure for this sale can be found here. Insiders have sold a total of 3,918,191 shares of company stock worth $405,136,249 over the last ninety days. Company insiders own 51.11% of the company’s stock.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, shoes.com, and samsclub.com; and mobile commerce applications.
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