Convergence Financial LLC Lowers Holdings in Walmart Inc. (NYSE:WMT)

Convergence Financial LLC reduced its position in shares of Walmart Inc. (NYSE:WMT) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,381 shares of the retailer’s stock after selling 558 shares during the quarter. Convergence Financial LLC’s holdings in Walmart were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of WMT. FPC Investment Advisory Inc. bought a new stake in shares of Walmart in the fourth quarter valued at about $25,000. Peterson Financial Group Inc. purchased a new stake in shares of Walmart in the 3rd quarter worth approximately $26,000. Fiduciary Advisors Inc. bought a new position in shares of Walmart during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. increased its holdings in Walmart by 77.3% during the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock valued at $32,000 after buying an additional 174 shares during the period. Finally, Decker Retirement Planning Inc. bought a new position in Walmart in the fourth quarter worth approximately $32,000. 26.76% of the stock is owned by institutional investors.

Walmart Stock Performance

Shares of NYSE WMT opened at $96.11 on Thursday. The company has a market capitalization of $772.10 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 4.42 and a beta of 0.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The company’s fifty day moving average price is $95.70 and its 200 day moving average price is $87.17. Walmart Inc. has a 1 year low of $58.20 and a 1 year high of $105.30.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $180.55 billion for the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. On average, research analysts predict that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a $0.235 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 0.98%. Walmart’s dividend payout ratio is currently 39.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Walmart from $97.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Walmart from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Roth Mkm restated a “buy” rating and issued a $108.00 price target (up from $97.00) on shares of Walmart in a report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating and set a $115.00 price objective (up previously from $106.00) on shares of Walmart in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein increased their target price on shares of Walmart from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has 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 data from MarketBeat, the company has an average rating of “Buy” and an average price target of $103.07.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $92.35, for a total transaction of $2,689,601.40. Following the completion of the sale, the chief executive officer now directly owns 3,785,702 shares in the company, valued at approximately $349,609,579.70. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,830 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.07, for a total value of $166,658.10. Following the completion of the transaction, the executive vice president now owns 460,705 shares in the company, valued at approximately $41,956,404.35. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,528 shares of company stock valued at $13,849,185. 45.58% of the stock is owned by corporate insiders.

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.