Walmart Inc. (NYSE:WMT) Shares Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. grew its position in Walmart Inc. (NYSE:WMT) by 218.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,318 shares of the retailer’s stock after buying an additional 24,221 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Walmart were worth $2,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WMT. Sheaff Brock Investment Advisors LLC grew its holdings in Walmart by 0.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 21,377 shares of the retailer’s stock valued at $3,370,000 after buying an additional 65 shares during the last quarter. Landmark Financial Advisors LLC lifted its position in shares of Walmart by 1.0% in the fourth quarter. Landmark Financial Advisors LLC now owns 7,055 shares of the retailer’s stock valued at $1,112,000 after acquiring an additional 70 shares in the last quarter. MinichMacGregor Wealth Management LLC boosted its stake in shares of Walmart by 4.0% during the fourth quarter. MinichMacGregor Wealth Management LLC now owns 2,063 shares of the retailer’s stock valued at $325,000 after acquiring an additional 79 shares during the last quarter. Lee Financial Co increased its position in Walmart by 2.1% during the 4th quarter. Lee Financial Co now owns 4,076 shares of the retailer’s stock worth $644,000 after purchasing an additional 82 shares in the last quarter. Finally, Syverson Strege & Co increased its position in Walmart by 2.6% during the 4th quarter. Syverson Strege & Co now owns 3,377 shares of the retailer’s stock worth $532,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.96, for a total value of $182,823,328.48. Following the completion of the transaction, the insider now owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Alice L. Walton sold 3,633,800 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $66.80, for a total value of $242,737,840.00. Following the completion of the sale, the insider now owns 636,898,811 shares of the company’s stock, valued at approximately $42,544,840,574.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the transaction, the insider now directly owns 619,646,544 shares in the company, valued at approximately $47,687,998,026.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,144,237 shares of company stock worth $730,497,016. 45.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WMT has been the topic of several analyst reports. TD Cowen raised their price target on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Robert W. Baird raised their target price on shares of Walmart from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. KeyCorp lifted their target price on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Truist Financial increased their price target on Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Citigroup lifted their price objective on Walmart from $63.33 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.99.

Walmart Stock Performance

Shares of NYSE:WMT opened at $76.64 on Friday. The business’s 50-day simple moving average is $71.45 and its 200 day simple moving average is $65.43. The company has a market cap of $616.05 billion, a P/E ratio of 32.80, a PEG ratio of 3.87 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a one year low of $49.85 and a one year high of $77.81.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast 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.