Noble Wealth Partners Takes Aim at Amazon with $570,000 Investment
Noble Wealth Partners LLC recently acquired 2,390 shares of Amazon.com stock during the second quarter. The value of this investment is approximately $570,000.
This represents about 0.5% of Noble Wealth Partners' investment portfolio, making it their 27th largest position. This recent purchase is not an isolated incident; several other institutional investors have increased their positions in Amazon.com recently.
Gryphon Financial Partners LLC, for example, boosted its stake by 7.5% during the first quarter. First Citizens Bank & Trust Co. and Narwhal Capital Management also increased their holdings, with Arrowstreet Capital Limited Partnership boosting its stake by 21.0% in the fourth quarter.
Hedge funds and other institutional investors own approximately 72.20% of Amazon.com's stock. Analysts have been optimistic about the company's prospects, citing its AI and cloud computing capabilities as key drivers of growth.