Amazon Shares Bought by Diamond Hill Capital Worth $176M
Diamond Hill Capital Management LLC Investment Advisor has taken a significant stake in Amazon.com, Inc. (NASDAQ:AMZN), acquiring 739,135 shares worth approximately $176,165,000 in the second quarter. This investment represents 1.4% of Diamond Hill's portfolio and makes it the company's 24th largest holding.
This is not an isolated move as several other institutional investors have also increased their stakes in Amazon during the same period. These include HBK Sorce Advisory LLC, Abbot Financial Management Inc., Peachtree Investment Partners LLC, Tulsa Wealth Advisors INC, and OMC Financial Services LTD.
The acquisition of Amazon shares by Diamond Hill Capital comes amidst a series of positive developments for the e-commerce giant. The company has recently agreed to purchase up to $60 billion of Qualcomm's custom data-center chips through 2036, which will help AWS expand its AI hardware supply and improve infrastructure flexibility.