Quad Cities Investment Group LLC Cuts Holdings in Walmart Inc. (NYSE:WMT)

Quad Cities Investment Group LLC reduced its position in shares of Walmart Inc. (NYSE:WMT) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,069 shares of the retailer’s stock after selling 672 shares during the quarter. Walmart accounts for approximately 1.2% of Quad Cities Investment Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Quad Cities Investment Group LLC’s holdings in Walmart were worth $2,428,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. AHL Investment Management Inc. boosted its holdings in shares of Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after purchasing an additional 15,785 shares during the last quarter. Liberty Wealth Management LLC purchased a new position in shares of Walmart during the 1st quarter worth $270,000. Commerce Bank boosted its position in shares of Walmart by 189.4% during the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after acquiring an additional 600,521 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Walmart by 290.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock worth $16,250,000 after purchasing an additional 200,947 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Walmart by 189.4% during the first quarter. Private Advisor Group LLC now owns 643,848 shares of the retailer’s stock worth $38,740,000 after purchasing an additional 421,366 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Performance

WMT stock traded down $0.36 during trading on Thursday, reaching $80.86. 2,819,356 shares of the stock were exchanged, compared to its average volume of 17,124,059. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $81.82. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $649.97 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 4.02 and a beta of 0.51. The stock has a 50 day simple moving average of $77.37 and a 200-day simple moving average of $69.31.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The firm had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.60, for a total value of $926,625.00. Following the completion of the transaction, the executive vice president now owns 632,415 shares in the company, valued at approximately $44,648,499. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Walmart news, EVP John R. Furner sold 13,125 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.60, for a total transaction of $926,625.00. Following the transaction, the executive vice president now owns 632,415 shares of the company’s stock, valued at approximately $44,648,499. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock worth $958,267,901 in the last quarter. 45.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Redburn Atlantic raised Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Bank of America upped their price objective on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Walmart from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group upped their price target on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $81.00) on shares of Walmart in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $82.96.

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.