Walmart Inc. (NASDAQ: WMT) is closing out 2025 with its shares near record levels, a fresh move to the Nasdaq, and renewed debate over whether (and when) it could enter the Nasdaq-100. As of Friday, Dec. 12, the latest available quote had Walmart around $115.52.
Below is a full, up-to-date look at the news, forecasts, and analyst takeaways shaping Walmart stock on 12/12/2025, plus the key catalysts investors are watching next.
Walmart stock price check: where WMT stands on Dec. 12, 2025
Walmart shares ended Thursday, Dec. 11 at $115.52, after trading as high as $115.87 intraday, according to historical pricing data. Pre-market indications early Friday were little changed. [1]
Zooming out, Walmart has been one of 2025’s steadier large-cap winners. Shares were up about 25% year-to-date heading into mid-December, helped by continued market-share gains, a strong omnichannel story, and improving profit contribution from faster-growing businesses like advertising and marketplace. [2]
The biggest “today” headline: Nasdaq-100 reshuffle watch—and why Walmart likely won’t be added yet
A major market event is landing on Friday, Dec. 12: Nasdaq’s annual review of the Nasdaq-100, with changes expected to be announced after the market close and take effect Dec. 22. [3]
Walmart matters here because it just moved its listing to Nasdaq—a shift that naturally sparked speculation about eventual Nasdaq-100 inclusion. However, analysts cited by Reuters flagged that Walmart is not expected to be eligible for inclusion in this year’s reshuffle, because the company’s Nasdaq trading start came after Nasdaq’s reference date for the rebalance. [4]
What this means for investors:
- No immediate “index inclusion pop” should be assumed for WMT from today’s reshuffle.
- The bigger opportunity may be later (a future rebalance window), depending on eligibility timing and index rules.
- The move still matters strategically because it keeps the Nasdaq-100 narrative alive—even if the timing doesn’t work for the 2025 reshuffle.
Nasdaq listing switch: why Walmart moved—and why it matters for the stock
Walmart announced in November that it would transfer its listing from the NYSE to the Nasdaq, framing the move as aligned with a more technology-forward identity. Reuters described the switch as the largest-ever exchange transfer by market value, underscoring how unusual (and visible) the decision was. [5]
On Dec. 9, Walmart formally debuted on the Nasdaq while keeping the same ticker: WMT. [6]
The bull-case interpretation (why investors cared):
- The Nasdaq is closely associated with technology and growth narratives, and Walmart has been increasingly pitching itself as a “tech-powered omnichannel retailer.” [7]
- The switch can intensify attention on Walmart’s tech-driven initiatives—automation, fulfillment speed, digital advertising, and AI-enabled commerce. [8]
- It keeps open the longer-run possibility of Nasdaq-100 inclusion, which could drive incremental passive ownership (even though it’s not expected to happen in this specific Dec. 12 reshuffle). [9]
Dividend spotlight: Dec. 12 is a key date for Walmart shareholders
Friday, Dec. 12, 2025, is not just a Nasdaq-100 reshuffle day—it’s also a dividend-related date for Walmart.
Earlier this year, Walmart’s board approved a fiscal 2026 annual dividend of $0.94 per share, paid in quarterly installments of $0.235. Walmart also highlighted that this marked its 52nd consecutive year of dividend increases. [10]
Walmart’s corporate announcement listed Dec. 12, 2025 as a record date, with the next payment scheduled for Jan. 5, 2026. [11]
Market data trackers also reflected Dec. 12, 2025 as the ex-dividend date for WMT. [12]
Why it matters for the stock (and for Google Discover readers):
- Dividend dates can influence short-term trading, especially among income investors and funds that track dividend calendars.
- Walmart’s dividend yield is relatively modest, but the consistency and growth of the payout remain part of its “defensive compounder” appeal.
Trading action and sentiment: unusual options activity in WMT
Beyond fundamentals, traders have also been watching short-term flows.
One market note pointed to unusually high call option volume in Walmart—reporting that call contracts traded significantly above typical daily levels as WMT rose to around $115.52 in the latest session referenced. [13]
Options activity doesn’t change Walmart’s long-term fundamentals on its own, but it can:
- signal heightened attention into catalysts (index news, dividend timing, macro data),
- amplify short-term volatility,
- and influence near-term positioning into year-end.
Earnings recap: Walmart’s latest quarter and what management raised
Walmart’s most recent earnings release (for fiscal Q3 2026) helped solidify the 2025 rally narrative: steady growth plus improving execution in e-commerce, advertising, and fulfillment speed.
Key results and trends highlighted in reporting:
- Walmart posted adjusted EPS of $0.62 on revenue of $179.5 billion, beating expectations cited in coverage. [14]
- Reuters reported Walmart lifted guidance again, calling out a 28% rise in online sales and raising its annual outlook to 4.8%–5.1% net sales growth and $2.58–$2.63 adjusted EPS. [15]
- Walmart’s own release emphasized broad strength and an acceleration in higher-growth profit streams:
- Global eCommerce sales +27%
- Global advertising +53% (including effects tied to VIZIO), with Walmart Connect U.S. +33%
- Strong delivery speed performance, including a sizable share of store-fulfilled orders delivered within hours [16]
This “steady retail + faster-growing digital profit pools” mix is at the core of why many analysts continue to stay constructive on Walmart—even with the stock trading near highs.
Holiday season update: Walmart leans into delivery speed (and that feeds the WMT thesis)
Another current narrative supporting the stock: Walmart is pushing hard on delivery convenience during the holiday stretch.
In a Dec. 9 update, Walmart said it would offer Express Delivery in as fast as one hour on orders placed up to 5 p.m. local time on Christmas Eve, and highlighted that its delivery network can reach 95% of U.S. households in under three hours. It also introduced a “Get it Now” feature inside the Walmart app aimed at reducing friction for last-minute orders. [17]
Investors care because:
- Faster last-mile execution can strengthen Walmart’s competitive position versus Amazon and other omnichannel rivals.
- Improved speed and reliability tend to lift customer frequency, membership attachment, and marketplace activity—areas associated with better long-run economics than traditional retail alone.
Analyst forecasts for Walmart stock: what Wall Street expects next
With WMT near $115–$116, the most interesting part of the forecast picture is how tight the consensus upside looks, even while ratings remain bullish.
One broad analyst compilation showed:
- Consensus rating: Strong Buy
- Average 12-month price target: about $118.33
- Range: $91 (low) to $130 (high) [18]
That implies only low-single-digit upside from current levels—suggesting that while analysts like the business trajectory, many also acknowledge that a lot of good news is already priced in.
Notable target raise: TD Cowen goes to $136
A headline target increase came earlier this week: TD Cowen raised its price target on Walmart to $136 from $125, while keeping a Buy rating. The note pointed to Walmart’s footprint, delivery convenience, and what it described as an expanding ecosystem across e-commerce, AI, marketplace, retail media, and membership. [19]
The 2026 setup: what bulls and bears are watching
The bull case for WMT in 2026
Investors who remain bullish generally focus on four themes:
- Omnichannel scale that’s hard to replicate
Walmart’s combination of stores + fulfillment + digital traffic keeps it competitive on both price and speed. - Profit mix shift
Advertising, marketplace, and membership-style revenue streams can lift margins over time if they keep scaling. [20] - AI and automation as real productivity levers
Walmart has repeatedly pointed to AI and automation as meaningful internal tools—not just marketing language. [21] - Index-related optionality
Even though Walmart isn’t expected to enter the Nasdaq-100 in this Dec. 12 reshuffle, the Nasdaq listing keeps the possibility alive for future index events. [22]
The bear case (and the biggest risks)
Skeptics tend to focus on:
- Valuation risk: after a strong 2025, WMT’s multiple can be vulnerable if growth slows or margins disappoint. [23]
- Macro and tariff pressure: Reuters noted challenges such as tariffs and economic turbulence as part of the backdrop the next CEO may have to navigate. [24]
- Execution risk in higher-margin businesses: retail media and marketplace are attractive—but competitive and sensitive to ad budgets and platform performance.
Key dates and catalysts to watch next
Here are the near-term “calendar” items most relevant to Walmart stock:
- Nasdaq-100 reshuffle decision: expected after market close Friday, Dec. 12, effective Dec. 22 (Walmart not expected to be eligible for inclusion this round). [25]
- Dividend timing:Dec. 12 record date and Jan. 5, 2026 payment date, per Walmart’s dividend schedule. [26]
- Next earnings date: Walmart is expected to report next results on Feb. 19, 2026. [27]
- CEO transition: Walmart has announced leadership change timing, with John Furner set to take over after Doug McMillon’s retirement (effective Feb. 1, per Reuters coverage). [28]
Bottom line: Walmart stock is priced for execution—but still has catalysts
As of Dec. 12, 2025, Walmart stock reflects a company that the market increasingly views as more than a traditional big-box retailer. The Nasdaq listing shift, holiday fulfillment push, and continued e-commerce/advertising expansion reinforce the “tech-powered omnichannel” narrative—but with shares already up sharply in 2025, the consensus forecast implies less room for error.
For investors, the story into 2026 likely comes down to a few questions:
- Can Walmart keep expanding higher-margin digital profit streams fast enough to justify the premium valuation?
- Will delivery speed, AI, and automation translate into durable margin upside?
- And when will Nasdaq index eligibility (especially the Nasdaq-100) become a real catalyst rather than a “next time” headline?
References
1. stockanalysis.com, 2. www.nasdaq.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. corporate.walmart.com, 11. corporate.walmart.com, 12. stockanalysis.com, 13. www.marketbeat.com, 14. www.investors.com, 15. www.reuters.com, 16. corporate.walmart.com, 17. corporate.walmart.com, 18. stockanalysis.com, 19. www.investing.com, 20. corporate.walmart.com, 21. www.reuters.com, 22. www.reuters.com, 23. www.marketbeat.com, 24. www.reuters.com, 25. www.reuters.com, 26. corporate.walmart.com, 27. www.zacks.com, 28. www.reuters.com
