5 Dow Stocks Billionaires Are Loading Up On

In this article, we will take a look at the 5 Dow stocks billionaires are loading up on. To see more such companies, go directly to 10 Dow Stocks Billionaires Are Loading Up On.

5. Walmart Inc. (NYSE:WMT)

Total Number of Billionaire Investors: 20

Walmart Inc. (NYSE:WMT) is in the spotlight after the company posted strong Q1 results in May. Walmart Inc. (NYSE:WMT)’s adjusted EPS in the first quarter came in at $1.47, beating estimates by $0.15. Revenue in the quarter increased by about 7.6% year over year to $152.3 billion, surpassing estimates by $4.39 billion. Global advertising business in the period jumped 30%, while comp. sales in the US grew 7.4%.

Billionaires are also fan of the big-box retailer. Insider Monkey’s analysis shows that 20 billionaires were piled into Walmart Inc. (NYSE:WMT) as of the end of the first quarter of 2023.

Out of the 943 hedge funds tracked by Insider Monkey, 91 hedge funds reported owning stakes in Walmart Inc. (NYSE:WMT), significantly up from 61 funds in the previous quarter. This shows a huge jump in hedge fund sentiment for Walmart Inc. (NYSE:WMT) in the first quarter.