Riverbend Wealth Management LLC Has $1.04 Million Holdings in Walmart Inc. (NYSE:WMT)

Riverbend Wealth Management LLC cut its holdings in Walmart Inc. (NYSE:WMT) by 1.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,876 shares of the retailer’s stock after selling 174 shares during the period. Riverbend Wealth Management LLC’s holdings in Walmart were worth $1,043,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Horizon Financial Services LLC grew its stake in Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after buying an additional 262 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in Walmart during the first quarter worth about $35,000. Noble Wealth Management PBC acquired a new stake in Walmart during the fourth quarter worth about $37,000. Mizuho Bank Ltd. acquired a new stake in Walmart during the fourth quarter worth about $41,000. Finally, Nexus Investment Management ULC acquired a new stake in Walmart during the first quarter worth about $49,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Trading Up 0.2%

Shares of Walmart stock opened at $98.04 on Wednesday. Walmart Inc. has a 52-week low of $66.55 and a 52-week high of $105.30. The stock’s 50-day simple moving average is $96.53 and its 200 day simple moving average is $94.18. The stock has a market capitalization of $782.37 billion, a P/E ratio of 41.90, a P/E/G ratio of 4.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The business had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. During the same period in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WMT shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Walmart in a research note on Monday, May 5th. Robert W. Baird increased their price objective on shares of Walmart from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Citigroup reiterated a “buy” rating on shares of Walmart in a research note on Tuesday, May 6th. DA Davidson reissued a “buy” rating and issued a $117.00 target price on shares of Walmart in a report on Friday, May 16th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Walmart in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Activity at Walmart

In related news, EVP Daniel J. Bartlett sold 1,760 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total value of $166,883.20. Following the sale, the executive vice president now directly owns 520,275 shares in the company, valued at approximately $49,332,475.50. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $95.85, for a total value of $1,258,031.25. Following the transaction, the executive vice president now directly owns 945,434 shares of the company’s stock, valued at $90,619,848.90. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,419 shares of company stock worth $14,295,650. Company insiders own 45.58% of the company’s stock.

Walmart Company 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.