Wal-Mart Stores, Inc. (WMT) Shares Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,383 shares of the retailer’s stock after buying an additional 518 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Wal-Mart Stores were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC raised its holdings in Wal-Mart Stores by 0.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock worth $224,000 after purchasing an additional 10 shares during the period. Wellington Shields & Co. LLC raised its holdings in Wal-Mart Stores by 0.4% in the 1st quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock worth $264,000 after purchasing an additional 15 shares during the period. Sterneck Capital Management LLC increased its stake in Wal-Mart Stores by 0.3% in the 1st quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock worth $475,000 after buying an additional 22 shares in the last quarter. LLBH Private Wealth Management LLC increased its stake in Wal-Mart Stores by 0.3% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock worth $594,000 after buying an additional 24 shares in the last quarter. Finally, Edgemoor Investment Advisors Inc. increased its stake in Wal-Mart Stores by 0.3% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,654 shares of the retailer’s stock worth $579,000 after buying an additional 24 shares in the last quarter. 30.18% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on WMT. Citigroup Inc increased their price target on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Wells Fargo & Company restated a “hold” rating on shares of Wal-Mart Stores in a research report on Thursday, August 17th. Credit Suisse Group restated a “hold” rating and set a $84.00 price objective on shares of Wal-Mart Stores in a research report on Friday, August 18th. Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $90.00 price objective on shares of Wal-Mart Stores in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $85.58.

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In related news, insider Jacqueline P. Canney sold 1,586 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total transaction of $125,294.00. Following the completion of the transaction, the insider now owns 21,125 shares in the company, valued at approximately $1,668,875. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total transaction of $158,940,000.00. Following the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $536,309,652.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,924,828 shares of company stock valued at $785,676,492. Insiders own 51.39% of the company’s stock.

Wal-Mart Stores, Inc. (WMT) opened at $89.68 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $265,263.56, a price-to-earnings ratio of 20.37, a PEG ratio of 3.43 and a beta of 0.34.

Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm had revenue of $123.40 billion during the quarter, compared to the consensus estimate of $121.86 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. research analysts forecast that Wal-Mart Stores, Inc. will post 4.39 earnings per share for the current year.

Wal-Mart Stores announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 10th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the retailer to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Wal-Mart Stores

Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.

Institutional Ownership by Quarter for Wal-Mart Stores (NYSE:WMT)

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