Stocks
EP Wealth Advisors Buys Large Stake in Amazon
EP Wealth Advisors LLC has acquired a significant stake in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 1,431,137 shares of the e-commerce giant's stock worth approximately $341,097,000 in the second quarter.
This new position comprises 1.3% of EP Wealth Advisors LLC's holdings, making it the company's 16th largest holding. Other institutional investors have also made significant changes to their positions in Amazon.com, including Bank of New York Mellon Corp and Invesco Ltd.
Amazon.com has been performing well, with revenue up 19.6% year-over-year in its latest quarter and analysts predicting $8.01 earnings per share for the current year. The company's stock price has also increased, opening at $253.71 on Friday.