Mid American Wealth Advisory Group Boosts Amazon Stake by 123.8%
Mid American Wealth Advisory Group Inc. significantly boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, increasing its holdings by 123.8%. The institutional investor now owns 4,245 shares of the e-commerce giant, worth approximately $1,012,000, after purchasing an additional 2,348 shares.
Several other hedge funds and institutional investors also made substantial moves in Amazon's stock. Silvant Capital Management LLC established a new position worth around $60,065,000, while the Public Employees Retirement System of Ohio acquired a stake valued at approximately $909,868,000. Northstar Financial Companies Inc. and Gryphon Financial Partners LLC also expanded their positions in Amazon, with Gryphon increasing its holdings by 7.5% in the first quarter.
Analysts and investment articles have highlighted several positive developments for Amazon. TD Cowen reaffirmed its Buy rating and raised its price target to $350, suggesting significant upside potential. Amazon's AWS division is expanding its AI capabilities by hiring a former Microsoft executive, and the company signed a multiyear, $1 billion-plus agreement with Synopsys to strengthen its custom-chip strategy. Additionally, Amazon is investing heavily in data-center power and community support, which may ease local opposition and remove infrastructure constraints on AWS expansion.
However, there are also concerns. Amazon is reportedly considering moving $8 billion of Nvidia chips into a special-purpose vehicle, which could improve capital flexibility but also highlights the financing burden of AI infrastructure spending. Investors are worried about the trillions of dollars in additional revenue needed to justify current industry investment, along with potential data-center opposition and power shortages. CEO Douglas Herrington sold 1,000 shares under a pre-arranged Rule 10b5-1 plan, which, while small relative to his remaining holdings, may add modest headline pressure.