Angeles Wealth Management boosts Amazon stake by 18.7 percent

Angeles Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 18.7% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission. The firm now holds 118,524 shares of the e-commerce giant, worth approximately $28.2 million. Amazon.com represents about 1.1% of Angeles Wealth Management LLC's investment portfolio, making it the firm's 15th largest holding.

Other institutional investors also made significant moves in Amazon.com shares during the quarter. Silvant Capital Management LLC acquired a new stake valued at $60.1 million, while the Public Employees Retirement System of Ohio purchased shares worth $910 million. Northstar Financial Companies Inc. and Gryphon Financial Partners LLC also increased their holdings, with the latter boosting its stake by 7.5% in the first quarter. Institutional investors collectively own 72.2% of Amazon.com's stock.

Analysts have expressed mixed views on Amazon.com's prospects. Goldman Sachs added the stock to its conviction list, while New Street raised its price target to $385 with a Buy rating. Other analysts highlighted AWS growth, generative AI exposure, and potential retail-margin improvements as reasons for long-term upside. However, concerns include profitability risks, regulatory challenges, and high AI infrastructure costs.

Insider transactions also drew attention, with SVP David Zapolsky and VP Shelley Reynolds selling shares worth $2.4 million and $606,860, respectively. Despite these sales, insiders still own 8.9% of the company's stock. Amazon.com's stock opened at $251.52, with a market cap of $2.71 trillion and a consensus analyst price target of $321.63.