WBI Investments Inc. Allocates $8.88 Million to Amazon.com Stake

In a recent investment move during the second quarter, WBI Investments Inc. has added Amazon.com, Inc. stock (NASDAQ:AMZN) to its portfolio, as revealed in their latest 13F filing with the SEC. WBI Investments purchased 68,089 shares of the leading e-commerce company, with an approximate value of $8.88 million. This investment secures Amazon.com a notable place within WBI Investments' portfolio, accounting for 1.6% and ranking as the 12th largest holding.

Investment Adjustments by Major Players

WBI Investments is not the only major investor adjusting their stakes in Amazon.com. Other prominent investors such as Sonen Capital LLC and Atalanta Sosnoff Capital LLC have also increased their shares in the company. Sonen Capital now holds 15,211 shares valued around $1.98 million after their latest purchase. Atalanta Sosnoff Capital, significantly increasing their stake by 168,381 shares, now holds a massive stake worth approximately $174.13 million. Various other financial institutions have similarly adjusted their investments in Amazon.com, indicating a broader interest in the tech giant's stock among institutional investors, who collectively own 57.96% of Amazon.com.

Analyst Ratings and Price Movements

Analyst ratings for Amazon.com have been largely positive, with adjustments to price targets and buy ratings from several brokerages. Barclays, for example, raised their price target to $190, while Loop Capital increased theirs to $200, both maintaining an 'overweight' and 'buy' rating respectively. Conversely, Truist Financial slightly reduced its target price but kept a 'buy' rating. With a total of one hold and forty-four buy ratings, Amazon.com stands as a firm 'Moderate Buy' among analysts with an average price target of $168.93.

Amazon's Financial Performance and Insider Activity

Amazon.com's stock opened at $146.71 on a Thursday, showcasing a solid performance with a market cap of $1.52 trillion and a P/E ratio of 76.02. The company's quarterly earnings report surpassed expectations, with reported earnings of $0.85 per share against a forecasted $0.58. This financial success is further reflected in Amazon.com's net margin of 3.62% and return on equity of 12.75%. Insider activity is also notable, with Senior Vice President David Zapolsky and CEO Douglas J. Herrington selling substantial numbers of shares, valued in the millions of dollars, while still retaining significant holdings in the company.

About Amazon.com

Amazon.com, Inc. is a global powerhouse in online retail, offering a vast selection of consumer products and subscriptions across North America and internationally. With three primary business segments including North America, International, and Amazon Web Services (AWS), the company has diversified its operations extensively, continuing to stand as a dominant player in the retail space.

Investment, E-commerce, Amazon