Argyle Capital Partners LLC Acquires New Stake in Amazon
Argyle Capital Partners LLC, an institutional investor, bought a new stake in Amazon.com, Inc.'s (NASDAQ:AMZN) shares during the second quarter. According to its most recent Form 13F filing with the Securities and Exchange Commission, Argyle purchased approximately 14,464 shares of the e-commerce giant's stock, valued at around $3,447,000.
Amazon.com accounts for about 2.2% of Argyle Capital Partners LLC's investment portfolio, making it its 5th biggest holding. Several other hedge funds have also recently added to or reduced their stakes in Amazon.com. For instance, Brighton Jones LLC boosted its position by 10.9% during the fourth quarter and now owns 4,036,091 shares of Amazon.com's stock worth approximately $885,478,000.
The e-commerce giant has been making significant moves in the AI space. Amazon Web Services (AWS) remains a major bullish catalyst for Amazon, with analysts describing it as the 'heartbeat' of the AI trade. AWS is experiencing its fastest growth in 18 quarters and is expected to combine cloud AI services with its large e-commerce ecosystem.