Walmart Attracts New Investor, Beacon Pointe Advisors, with $57.95 Million Stake
Beacon Pointe Advisors LLC, an institutional investor, made a new $57.95 million investment in Walmart Inc. (NASDAQ:WMT) during the second quarter.
The company purchased 511,640 shares of Walmart's stock, valued at approximately $57,948,000, according to its most recent filing with the Securities & Exchange Commission.
Beacon Pointe Advisors LLC is not the only institutional investor that has increased its stake in Walmart. Bank of America Corp DE bought a new stake in shares of Walmart in the second quarter worth $7,455,131,000.
AQR Capital Management LLC also boosted its position in Walmart by 188.1% in the third quarter and now owns 11,663,172 shares of the retailer's stock worth $1,199,907,000.