Masso Torrence Wealth Management Inc. Buys 602 Shares of Walmart Inc. (NYSE:WMT)

Masso Torrence Wealth Management Inc. boosted its stake in Walmart Inc. (NYSE:WMT) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,448 shares of the retailer’s stock after acquiring an additional 602 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Walmart were worth $707,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Walmart during the first quarter worth about $25,000. Northwest Capital Management Inc grew its holdings in shares of Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after purchasing an additional 293 shares during the last quarter. TruNorth Capital Management LLC grew its holdings in shares of Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after purchasing an additional 249 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in shares of Walmart during the fourth quarter worth about $30,000. Finally, Able Wealth Management LLC bought a new stake in shares of Walmart during the fourth quarter worth about $30,000. 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 1,132,123 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total transaction of $73,610,637.46. Following the completion of the sale, the insider now owns 647,371,888 shares in the company, valued at $42,092,120,157.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $65.23, for a total transaction of $1,899,758.52. Following the completion of the sale, the chief executive officer now owns 3,989,526 shares in the company, valued at $260,236,780.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 1,132,123 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total value of $73,610,637.46. Following the sale, the insider now owns 647,371,888 shares of the company’s stock, valued at approximately $42,092,120,157.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,970,613 shares of company stock worth $723,987,410. 45.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WMT has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $81.00) on shares of Walmart in a report on Friday. Citigroup lifted their price objective on Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. DA Davidson lifted their price objective on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Walmart from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Walmart from $75.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walmart presently has an average rating of “Moderate Buy” and an average price target of $78.57.

Walmart Stock Up 1.1 %

Shares of NYSE:WMT traded up $0.84 during trading on Tuesday, reaching $74.56. 14,423,731 shares of the stock were exchanged, compared to its average volume of 17,599,436. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $74.75. The stock has a fifty day moving average of $69.15 and a two-hundred day moving average of $63.68. The firm has a market cap of $599.73 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 4.04 and a beta of 0.50.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. Walmart’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that Walmart Inc. will post 2.43 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.