Scotiabank Boosts Outlook for Amazon.com with New Coverage
On October 11, 2024, Scotiabank began tracking Amazon.com (BVC:AMZN) and assigned it a Sector Outperform rating.
Institutional Ownership Trends
Currently, 6,846 funds or institutions report their positions in Amazon.com, reflecting a growth of 117 owners, or 1.74%, in the last quarter. The average portfolio weight for all funds invested in AMZN stands at 2.50%, marking a rise of 2.22%. Additionally, the total number of shares held by institutions has increased by 5.67% over the past three months, equating to 7,337,459K shares.
The Vanguard Total Stock Market Index Fund (VTSMX) holds 295,886K shares, accounting for 2.82% ownership of Amazon. This represents a slight increase from 293,875K shares reported earlier, an increase of 0.68%. VTSMX has raised its portfolio allocation in AMZN by 4.90% in the last quarter.
Another important player, Vanguard 500 Index Fund (VFINX), owns 235,043K shares or 2.24% of Amazon. Previously, it reported holding 230,356K shares, which indicates an increase of 1.99%. VFINX upped its AMZN allocation by 3.48% last quarter.
Geode Capital Management has 193,369K shares, representing 1.84% ownership. Their previous holding was 187,843K shares, reflecting a 2.86% increase. They have also raised their AMZN portfolio allocation by 4.66% in the last quarter.
Price T Rowe Associates owns 181,610K shares (1.73% ownership) but reported a decline from 189,705K shares, a decrease of 4.46%. However, they have still incrementally increased their AMZN allocation by 0.13% recently.
JPMorgan Chase holds 172,868K shares, making up 1.65% of the company. Their previous reporting showed ownership of 171,742K shares, an increase of 0.65%. They’ve boosted their portfolio allocation in AMZN by 4.72% over the last quarter.
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This article originally appeared on Fintel.
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