Icon Wealth Advisors LLC Cuts Position in Walmart Inc. (NYSE:WMT)

Icon Wealth Advisors LLC lessened its holdings in Walmart Inc. (NYSE:WMT) by 92.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334 shares of the retailer’s stock after selling 15,835 shares during the period. Icon Wealth Advisors LLC’s holdings in Walmart were worth $105,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WMT. Charles Schwab Investment Management Inc. increased its position in shares of Walmart by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock worth $2,522,369,000 after acquiring an additional 350,881 shares in the last quarter. Oxbow Advisors LLC increased its holdings in shares of Walmart by 45.0% in the 3rd quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock valued at $2,298,000 after acquiring an additional 8,834 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Walmart by 21.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock worth $47,400,000 after buying an additional 105,430 shares during the last quarter. Whalerock Point Partners LLC boosted its stake in Walmart by 213.5% in the first quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock valued at $1,782,000 after acquiring an additional 20,167 shares during the period. Finally, WFA Asset Management Corp lifted its stake in Walmart by 201.0% in the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after buying an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WMT. DZ Bank downgraded Walmart from a “buy” rating to a “hold” rating and set a $91.00 target price for the company. in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 16th. Truist Financial lifted their price objective on Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Piper Sandler lifted their price target on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Robert W. Baird upped their target price on shares of Walmart from $90.00 to $100.00 and gave the stock an “outperform” 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.88.

Insider Activity at Walmart

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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 of the company’s stock, valued at $47,245,498,149.60. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the sale, the executive vice president now 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. In the last 90 days, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by company insiders.

Walmart Price Performance

WMT stock opened at $90.44 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.23 and a current ratio of 0.85. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $90.91. The company has a fifty day moving average price of $82.12 and a 200-day moving average price of $73.94. The company has a market capitalization of $726.98 billion, a P/E ratio of 37.12, a PEG ratio of 4.29 and a beta of 0.51.

Walmart (NYSE:WMT) last released its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. Walmart’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, equities analysts expect that Walmart Inc. will post 2.47 EPS for the current year.

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.