Amazon Stake Reduced by Top Investor Amid Growing Sentiment Around AI
Allen Mooney & Barnes Investment Advisors LLC has reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% during the second quarter, according to a recent Form 13F filing with the Securities & Exchange Commission.
The firm owned 70,428 shares of the e-commerce giant's stock after selling 3,800 shares during the period.
Amazon.com comprises approximately 2.5% of Allen Mooney & Barnes Investment Advisors LLC's holdings, making it their 12th largest position.
This reduction in Amazon.com holdings was part of a broader trend, as other institutional investors also adjusted their stakes in the company during the same quarter.