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Recent Insider Activity Could Benefit Walmart Inc (WMT)

Walmart Inc’s recent filing unveils that its President and CEO McMillon C Douglas unloaded Company’s shares for reported $1.75 million on Apr 25 ’24. In the deal valued at $60.03 per share,29,124 shares were sold. As a result of this transaction, McMillon C Douglas now holds 4,018,650 shares worth roughly $242.08 million.

Then, Rainey John D sold 3,000 shares, generating $180,782 in total proceeds. Upon selling the shares at $60.26, the Executive Vice President now owns 524,613 shares.

Before that, McMillon C Douglas sold 29,124 shares. Walmart Inc shares valued at $1,760,400 were divested by the President and CEO at a price of $60.45 per share. As a result of the transaction, McMillon C Douglas now holds 4,047,767 shares, worth roughly $243.84 million.

Telsey Advisory Group reiterated its Walmart Inc [WMT] rating to an Outperform in a research note published on February 21, 2024; the price target was $205. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. RBC Capital Mkts also remained covering WMT and reiterated its “an Outperform” recommendation on August 18, 2023. Credit Suisse maintained its rating on August 11, 2023. It rated WMT as “an Outperform”.

Price Performance Review of WMT

On Monday, Walmart Inc [NYSE:WMT] saw its stock jump 0.13% to $60.24. Over the last five days, the stock has gained 0.17%. Walmart Inc shares have risen nearly 14.63% since the year began. Nevertheless, the stocks have risen 19.38% over the past one year. While a 52-week high of $61.65 was reached on 03/21/24, a 52-week low of $48.34 was recorded on 01/05/24. SMA at 50 days reached $59.91, while 200 days put it at $55.09. A total of 9.79 million shares were traded, compared to the trading of 11.05 million shares in the previous session.

Levels Of Support And Resistance For WMT Stock

The 24-hour chart illustrates a support level at 59.99, which if violated will result in even more drops to 59.74. On the upside, there is a resistance level at 60.44. A further resistance level may holdings at 60.64. The Relative Strength Index (RSI) on the 14-day chart is 54.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.84%. Stochastics %K at 70.59% indicates the stock is a holding.

The most recent change occurred on August 09, 2023 when Wells Fargo resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $175.

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