Noble Wealth Partners Takes New Stake in Amazon.com
Noble Wealth Partners LLC has acquired a new stake in Amazon.com, Inc. (NASDAQ: AMZN), purchasing 2,390 shares during the second quarter. The transaction, valued at approximately $570,000, was disclosed in the firm's recent 13F filing with the Securities & Exchange Commission. Other institutional investors have also made significant moves involving Amazon's stock. Auto Owners Insurance Co dramatically increased its holdings by 27,376.7% in the fourth quarter, now owning 98,448,885 shares worth $2.27 billion. Bank of America Corp DE and Bank of New York Mellon Corp each established new positions in the second quarter, valued at $22.22 billion and $16.34 billion, respectively.
Amundi raised its holdings by 14.1% in the first quarter, acquiring an additional 7.59 million shares, while Invesco Ltd. boosted its position by 3.3% in the fourth quarter. Institutional investors and hedge funds collectively own 72.20% of Amazon's stock. The company's shares opened at $251.52 on Monday, with a market capitalization of $2.71 trillion. Amazon reported strong earnings in its latest quarter, with $5.75 earnings per share, significantly surpassing estimates of $1.82. Revenue for the quarter reached $200.61 billion, up 19.6% year-over-year.
Insider transactions also made headlines, with SVP David Zapolsky selling 9,258 shares for $2.40 million and CEO Matthew S. Garman selling 14,541 shares for $3.77 million. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans. Company insiders collectively own 8.90% of the company's stock. Analysts have set a consensus price target of $321.63 for Amazon, with many citing AWS growth and generative AI exposure as key drivers for longer-term upside. However, some analysts have raised concerns about profitability and regulatory risks, including surging AI capital expenditures and potential tougher EU cloud rules.