Amazon Stock Gains Attention from Institutional Investors
Amazon.com, Inc. (NASDAQ:AMZN) has gained significant attention from institutional investors. Maridea Wealth Management LLC bought 56,662 shares of Amazon's stock during the second quarter, valued at approximately $13,505,000. This investment accounts for about 1.5% of Maridea Wealth Management LLC's portfolio, making it their 17th largest position.
Other large investors have also increased their stakes in Amazon. Brighton Jones LLC grew its position by 10.9% during the fourth quarter, while Revolve Wealth Partners LLC boosted its stake by 4.1%. Bank Pictet & Cie Europe AG and Highview Capital Management LLC DE also increased their positions.
Hedge funds own about 72.20% of Amazon's stock. The company has a market capitalization of $2.77 trillion, with a price-to-earnings ratio of 20.67 and a PEG ratio of 1.99.