Aries Wealth Management Decreases Stock Position in Walmart Inc. (NYSE:WMT)

Aries Wealth Management lessened its holdings in shares of Walmart Inc. (NYSE:WMT) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,455 shares of the retailer’s stock after selling 312 shares during the period. Walmart comprises approximately 1.3% of Aries Wealth Management’s holdings, making the stock its 18th largest holding. Aries Wealth Management’s holdings in Walmart were worth $4,868,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Walmart during the 4th quarter valued at about $25,000. Horizon Financial Services LLC boosted its position in Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after acquiring an additional 262 shares in the last quarter. Noble Wealth Management PBC bought a new stake in Walmart during the 4th quarter valued at approximately $37,000. Mizuho Bank Ltd. bought a new stake in Walmart during the 4th quarter valued at approximately $41,000. Finally, Nexus Investment Management ULC bought a new stake in Walmart during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance

WMT stock opened at $94.20 on Friday. The stock has a market capitalization of $751.76 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. Walmart Inc. has a 12-month low of $66.41 and a 12-month high of $105.30. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $95.79 and its 200 day simple moving average is $94.08.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, research analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s payout ratio is 40.17%.

Wall Street Analyst Weigh In

WMT has been the topic of several research reports. Oppenheimer lifted their price objective on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. UBS Group decreased their price objective on Walmart from $112.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wall Street Zen upgraded Walmart from a “hold” rating to a “buy” rating in a report on Monday, May 12th. DA Davidson reiterated a “buy” rating and issued a $117.00 price objective on shares of Walmart in a report on Friday, May 16th. Finally, KeyCorp increased their price objective on Walmart from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Activity

In other news, EVP Daniel J. Bartlett sold 1,760 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total transaction of $166,883.20. Following the transaction, the executive vice president now directly owns 520,275 shares of the company’s stock, valued at $49,332,475.50. This represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $99.00, for a total value of $217,800.00. Following the transaction, the executive vice president now directly owns 630,518 shares in the company, valued at $62,421,282. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,534 shares of company stock valued at $12,833,664 in the last ninety days. 45.58% of the stock is currently owned by company insiders.

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.