Thrive Wealth Management LLC Acquires 106 Shares of Walmart Inc. (NYSE:WMT)

Thrive Wealth Management LLC lifted its position in shares of Walmart Inc. (NYSE:WMT) by 5.9% in the second quarter, HoldingsChannel reports. The fund owned 1,908 shares of the retailer’s stock after buying an additional 106 shares during the period. Thrive Wealth Management LLC’s holdings in Walmart were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tlwm raised its position in shares of Walmart by 1.4% during the second quarter. Tlwm now owns 8,325 shares of the retailer’s stock worth $1,309,000 after acquiring an additional 113 shares during the last quarter. Worth Asset Management LLC grew its stake in shares of Walmart by 11.3% during the second quarter. Worth Asset Management LLC now owns 659 shares of the retailer’s stock worth $104,000 after purchasing an additional 67 shares during the period. Walker Financial Services Inc. grew its stake in shares of Walmart by 6.5% during the second quarter. Walker Financial Services Inc. now owns 3,163 shares of the retailer’s stock worth $497,000 after purchasing an additional 194 shares during the period. Selective Wealth Management Inc. acquired a new stake in shares of Walmart during the second quarter worth $528,000. Finally, Buckingham Capital Management Inc. acquired a new stake in shares of Walmart during the second quarter worth $203,000. Institutional investors own 33.18% of the company’s stock.

Analyst Upgrades and Downgrades

WMT has been the subject of a number of analyst reports. Roth Mkm lifted their price objective on Walmart from $169.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Wells Fargo & Company lifted their price objective on Walmart from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Piper Sandler raised Walmart from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $210.00 in a research note on Monday, July 24th. BNP Paribas assumed coverage on Walmart in a research note on Monday, June 12th. They set an “outperform” rating and a $186.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on Walmart from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Walmart currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.51.

Insider Buying and Selling

In related news, major shareholder Alice L. Walton sold 473,370 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $155.75, for a total transaction of $73,727,377.50. Following the sale, the insider now owns 241,479,146 shares of the company’s stock, valued at $37,610,376,989.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Alice L. Walton sold 473,370 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $155.75, for a total transaction of $73,727,377.50. Following the sale, the insider now owns 241,479,146 shares of the company’s stock, valued at $37,610,376,989.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Rainey sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $161.37, for a total value of $161,370.00. Following the sale, the executive vice president now directly owns 169,735 shares in the company, valued at approximately $27,390,136.95. The disclosure for this sale can be found here. Insiders have sold 6,493,773 shares of company stock valued at $1,005,802,298 over the last 90 days. 46.51% of the stock is owned by corporate insiders.

Walmart Price Performance

Shares of NYSE WMT opened at $163.42 on Tuesday. The firm has a market cap of $439.85 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.89 and a beta of 0.49. The company has a current ratio of 0.83, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. Walmart Inc. has a 1-year low of $128.07 and a 1-year high of $165.85. The business’s 50 day moving average is $159.34 and its 200-day moving average is $152.70.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, August 17th. The retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $161.63 billion for the quarter, compared to analyst estimates of $160.22 billion. Walmart had a return on equity of 21.47% and a net margin of 2.23%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 earnings per share. Equities research analysts predict that Walmart Inc. will post 6.44 earnings per share for the current year.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, and other units 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, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.