As Walmart's stock reaches a new high, the Walton family joins the ranks of internal personnel selling off US stocks.

According to documents filed with the U.S. Securities and Exchange Commission (SEC) last Friday, as global retail giant Walmart's stock hovers near historic highs, members of the Walton family have sold some of their holdings. The Walton Family Holding Trust sold approximately 8.82 million shares of Walmart stock worth about $1.5 billion between February 21 and 23. The related documents were submitted on behalf of Alice, Jim, and Rob Walton. Data compiled by the media shows that the Walton family, through the trust and their main investment vehicle Walton Enterprises, owns about 45% of Walmart's outstanding shares. The total wealth of Alice, Jim, and Rob Walton is $274 billion, making them one of the wealthiest families in the United States. Walmart's stock has risen by over 13% so far this year, outperforming the broader U.S. stock market and the retail industry average. On Monday, Walmart's stock closed up 1.85%, reaching a new closing high. This was the first trading day after the 1-for-3 split of Walmart's stock took effect. Last week, Walmart reported impressive earnings, benefiting from strong performance in its e-commerce business. Fourth-quarter results exceeded expectations, advertising business growth is also accelerating, and the company announced the acquisition of TV manufacturer Vizio, along with the largest dividend increase in over a decade. Boosted by this earnings report, Walmart's stock reached a new all-time high. The Walton family's sale of Walmart stock comes at a time when a series of corporate insiders are selling their own shares: Bezos has aggressively sold 50 million shares of Amazon stock worth a staggering $8.5 billion. Last week, JPMorgan Chase CEO Jamie Dimon and his family sold about 822,000 shares of stock worth around $150 million in a series of transactions. This is the first time in 18 years of Dimon's leadership at JPMorgan Chase that he has sold equity. Financial blog Zerohedge previously warned that the speed at which insiders are selling shares is unprecedented in years. Some media outlets have bluntly stated that these billionaires may believe that the U.S. stock market may have limited room for further growth.