Amazon Sees Significant Buying Interest from Institutional Investors
Amazon.com, Inc.'s (NASDAQ:AMZN) stock has seen significant buying interest from institutional investors. Private Client Services LLC increased its stake in Amazon by 17.1% during the second quarter, purchasing an additional 2,067 shares.
The company's e-commerce giant's stock makes up about 0.9% of Private Client Services LLC's holdings, making it their 24th biggest position. The total value of Amazon.com's shares held by Private Client Services LLC was $3,369,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings in the stock. Meadowbrook Wealth Management LLC boosted its position in Amazon.com by 1.3% in the 2nd quarter, while RDA Financial Network raised its holdings by 0.7%. Boltwood Capital Management increased its stake by 4.0%, and Trilogy Capital Inc. lifted its stake by 5.0%.
Amazon's quarterly revenue was up 19.6% compared to the same period last year, with the company earning $200.61 billion in revenue. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $3.93.