Amazon.com Sees Continued Institutional Support Amidst Earnings Beat

Dearborn Partners LLC purchased approximately $4,821,000 worth of Amazon.com stock in the second quarter, as reported by its most recent Form 13F filing with the Securities and Exchange Commission.

The fund acquired 20,226 shares of the e-commerce giant's stock, valued at around $239.00 per share based on Friday's opening price of $249.67.

This purchase is part of a larger trend where hedge funds and other institutional investors have been increasing their stakes in Amazon.com.

As of now, these investors own 72.20% of the company's stock.