Old North State Trust Invests Heavily in Walmart Amidst Strong Earnings

Old North State Trust LLC has invested $1.41 million in Walmart Inc., purchasing 12,451 shares of the retailer's stock in its second quarter filing with the Securities and Exchange Commission. This new position by Old North State Trust is part of a larger trend of institutional investors buying into Walmart.

According to the latest Form 13F filings, several other hedge funds have also recently bought and sold shares of WMT. State Street Corp increased its position in shares of Walmart by 1.2% in the third quarter, acquiring an additional 2,242,364 shares.

Walmart's stock performance has been a topic of interest among investors, with shares opening at $103.09 on Monday and reaching a 12-month high of $135.15. The company reported earnings per share (EPS) of $0.81 for the quarter, topping analysts' consensus estimates by $0.07.