Prosperity Financial Group Inc. Sells 1,875 Shares of Walmart Inc. (NYSE:WMT)

Prosperity Financial Group Inc. reduced its position in Walmart Inc. (NYSE:WMT) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,824 shares of the retailer’s stock after selling 1,875 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Walmart were worth $713,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of WMT. WFA Asset Management Corp grew its stake in Walmart by 201.0% during the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock worth $126,000 after purchasing an additional 1,397 shares during the period. Dupont Capital Management Corp grew its position in shares of Walmart by 165.4% during the 1st quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock worth $16,255,000 after buying an additional 168,346 shares during the period. EntryPoint Capital LLC bought a new stake in Walmart in the first quarter valued at $25,000. Captrust Financial Advisors increased its stake in Walmart by 156.9% in the first quarter. Captrust Financial Advisors now owns 968,579 shares of the retailer’s stock valued at $58,279,000 after purchasing an additional 591,611 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Walmart by 180.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 93,833 shares of the retailer’s stock valued at $5,646,000 after purchasing an additional 60,408 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Up 2.3 %

Walmart stock opened at $90.44 on Monday. The firm has a market capitalization of $726.98 billion, a price-to-earnings ratio of 37.12, a P/E/G ratio of 4.29 and a beta of 0.51. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $90.91. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $82.12 and a 200 day simple moving average of $73.94.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, analysts predict that Walmart Inc. will post 2.47 earnings per share for the current year.

Insider Activity at Walmart

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the transaction, the executive vice president now directly owns 384,165 shares in the company, valued at $29,765,104.20. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,337,337 shares of company stock valued at $958,823,647. Company insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

WMT has been the subject of a number of research analyst reports. Truist Financial boosted their target price on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 16th. Oppenheimer increased their target price on Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. DA Davidson lifted their price target on shares of Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus upped their price objective on shares of Walmart from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Two investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.88.

Walmart Profile

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.