NBH Bank Boosts Amazon Stake as Institutional Investors Increase Holdings
NBH Bank has expanded its investment in Amazon.com, Inc. (NASDAQ:AMZN) by acquiring a new stake in the second quarter, according to its latest 13F filing with the SEC. The bank purchased 17,923 shares of Amazon's stock, valued at approximately $4,272,000. This investment makes Amazon approximately 1.8% of NBH Bank's portfolio, positioning it as the bank's 13th largest holding.
Other institutional investors have also adjusted their positions in Amazon. Trust Asset Management LLC increased its holdings by 3.3% during the second quarter, now owning 107,563 shares worth $26,000. TOP Private Wealth LLC, Bard Associates Inc., and Longfellow Investment Management Co. LLC all initiated new positions in Amazon during the same period, with investments ranging from $29,000 to $33,000. Lifetime Wealth Management P.C. acquired a new position in the fourth quarter valued at approximately $45,000. Collectively, institutional investors and hedge funds own 72.20% of Amazon's stock.
Amazon has been making significant strides in various areas, particularly with its cloud computing division, Amazon Web Services (AWS). The company pledged over $1 billion over five years to support communities hosting its U.S. data centers, focusing on job training, education, and infrastructure initiatives. This investment aims to mitigate resistance to new facilities and secure capacity for AI workloads. Additionally, AWS's rapid expansion and a $1 billion agreement with Synopsys for custom-chip development have been highlighted as key growth drivers.
Analysts have shown confidence in Amazon's future prospects. Goldman Sachs added Amazon to its conviction list, while New Street raised its price target to $385 and maintained a Buy rating. Analysts cited AWS growth, generative AI exposure, and potential improvements in retail margins as reasons for long-term upside. However, there are also risks to consider, including profitability concerns, regulatory challenges, and increasing AI capital expenditures that could pressure free cash flow.