Amazon.com Sees Positive Outlook as Coverage Begins with Buy Rating
On October 11, 2024, Pivotal Research announced they have started coverage of Amazon.com (SNSE:AMZN) with a strong Buy recommendation.
Fund Sentiment on the Rise
A total of 6,846 funds and institutions currently hold positions in Amazon.com, marking an increase of 117 owners or 1.74% from the previous quarter. The average portfolio allocation for all funds invested in AMZN now stands at 2.50%, showing an uptick of 2.19%. In total, institutional ownership rose by 5.67% over the last three months, reaching 7,337,459K shares.
Notable shareholders include:
- VTSMX – Vanguard Total Stock Market Index Fund Investor Shares: Holds 295,886K shares, representing 2.82% ownership of Amazon. This reflects an increase of 0.68% from the previous total of 293,875K shares, with a 4.90% rise in portfolio allocation over the last quarter.
- VFINX – Vanguard 500 Index Fund Investor Shares: Owns 235,043K shares, equating to 2.24% ownership. This is a 1.99% increase from 230,356K shares previously, with a portfolio allocation increase of 3.48% in the last quarter.
- Geode Capital Management: Holds 193,369K shares, which is 1.84% of Amazon. This is an increase of 2.86% from the 187,843K shares reported earlier, with a 4.66% increase in portfolio allocation.
- Price T Rowe Associates: Owns 181,610K shares, representing 1.73%. This reflects a decrease of 4.46% from 189,705K shares, with a slight increase of 0.13% in portfolio allocation.
- JPMorgan Chase: Holds 172,868K shares, or 1.65% ownership. This showcases an increase of 0.65% from the prior count of 171,742K shares, along with a 4.72% rise in portfolio allocation.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
