Tocqueville Asset Management L.P. Puts $40M Behind Walmart

Tocqueville Asset Management L.P. has invested in Walmart Inc. (NASDAQ:WMT), purchasing 354,932 shares valued at approximately $40,200,000 according to its most recent 13F filing with the Securities and Exchange Commission.

This is not an isolated instance of investment; several other hedge funds and institutional investors have also made changes to their positions in Walmart. Entrust Financial LLC bought a new stake worth about $27,000 in the fourth quarter, while Merkkuri Wealth Advisors LLC purchased a new position valued at approximately $29,000 during the 1st quarter.

Walmart reported adjusted earnings of $0.81 per share and revenue of $187.94 billion in its quarterly earnings report, beating analysts' consensus estimates. Global e-commerce sales rose 23%, advertising revenue increased 38%, and global membership revenue grew 17%. Despite this growth, the company's guidance fell short of consensus expectations.