Private Asset Management Inc. Sells 542 Shares of Walmart Inc. (NYSE:WMT)

Private Asset Management Inc. trimmed its position in Walmart Inc. (NYSE:WMT) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,343 shares of the retailer’s stock after selling 542 shares during the quarter. Private Asset Management Inc.’s holdings in Walmart were worth $211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Architects LLC grew its holdings in Walmart by 3.3% in the first quarter. Wealth Architects LLC now owns 2,076 shares of the retailer’s stock worth $306,000 after purchasing an additional 66 shares during the period. Bluesphere Advisors LLC grew its holdings in Walmart by 3.5% in the first quarter. Bluesphere Advisors LLC now owns 2,003 shares of the retailer’s stock worth $295,000 after purchasing an additional 67 shares during the period. Glassman Wealth Services grew its holdings in Walmart by 1.5% in the first quarter. Glassman Wealth Services now owns 4,477 shares of the retailer’s stock worth $660,000 after purchasing an additional 68 shares during the period. Avalon Investment & Advisory grew its holdings in Walmart by 3.4% in the fourth quarter. Avalon Investment & Advisory now owns 2,070 shares of the retailer’s stock worth $294,000 after purchasing an additional 69 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its holdings in Walmart by 1.1% in the first quarter. Cyndeo Wealth Partners LLC now owns 6,515 shares of the retailer’s stock worth $381,000 after purchasing an additional 69 shares during the period. 33.18% of the stock is owned by institutional investors.

Walmart Price Performance

Shares of NYSE:WMT opened at $165.29 on Friday. The company has a 50 day moving average of $158.96 and a 200 day moving average of $152.29. The stock has a market cap of $444.89 billion, a P/E ratio of 31.79, a P/E/G ratio of 3.88 and a beta of 0.49. Walmart Inc. has a 12 month low of $128.07 and a 12 month high of $165.85. 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 (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 17th. The retailer reported $1.84 EPS for the quarter, beating the consensus estimate of $1.69 by $0.15. The company had revenue of $161.63 billion during the quarter, compared to analysts’ expectations of $160.22 billion. Walmart had a net margin of 2.23% and a return on equity of 21.47%. Walmart’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, sell-side analysts forecast that Walmart Inc. will post 6.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WMT shares. Telsey Advisory Group lifted their price objective on shares of Walmart from $168.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 18th. Tigress Financial lifted their price objective on shares of Walmart from $176.00 to $182.00 in a report on Wednesday, June 7th. Wells Fargo & Company lifted their price objective on shares of Walmart from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 18th. Stifel Nicolaus boosted their price target on shares of Walmart from $163.00 to $167.00 and gave the stock a “hold” rating in a report on Monday, August 14th. Finally, Credit Suisse Group boosted their price target on shares of Walmart from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.51.

Insider Activity

In other news, EVP John D. Rainey sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.48, for a total value of $159,480.00. Following the completion of the sale, the executive vice president now owns 170,735 shares of the company’s stock, valued at approximately $27,228,817.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John D. Rainey sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.48, for a total transaction of $159,480.00. Following the completion of the sale, the executive vice president now directly owns 170,735 shares in the company, valued at approximately $27,228,817.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director S Robson Walton sold 1,183,630 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $155.52, for a total transaction of $184,078,137.60. Following the sale, the director now owns 240,230,516 shares of the company’s stock, valued at $37,360,649,848.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,493,773 shares of company stock valued at $1,005,802,298. Corporate insiders own 46.51% of the company’s stock.

About Walmart

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.