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Sam Walton, the largest shareholder of Walmart, has sold his shares as they rose.
Bloomberg reported on the 26th that the Walton family had sold approximately $1.5 billion worth of Walmart shares as the company’s stock approached a record high last week.
According to a report from the U.S. Securities and Exchange Commission (SEC), the Walton Family Trust sold about 8.82 million shares of Walmart from February 21 to 23, with notifications submitted on behalf of Alice, Jim, and Rob Walton.
A Walmart spokesperson stated that the Walton family is expected to occasionally sell stocks to offset the increase in ownership stake due to the company’s share buyback program and to support charitable activities.
According to Bloomberg data, the Walton family holds about 45% of Walmart’s unissued shares through the trust and their main investment method, Walton Enterprises. The total wealth of Alice, Jim, and Rob Walton is $274 billion.
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This transaction occurred amidst a wave of stock trading that has recently attracted attention.
Jamie Dimon, the CEO of JPMorgan Chase, and his family sold $150 million in bank stocks for the first time in 18 years. Jeff Bezos also recently sold 500,000 shares of Amazon through multiple transactions.
Walmart’s fiscal year forecast also exceeded some analysts’ estimates.
Walmart’s stock price has increased by 13% this year and closed at a record high after rising 1.8% the previous day.
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