Wed Sep 25 07:14:59 UTC 2024: ## Fort Washington Investment Advisors Cuts Amazon Stake, While Other Investors Buy

**Seattle, WA – September 25th, 2024** – Fort Washington Investment Advisors Inc. OH has reduced its stake in e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the second quarter, selling 8,172 shares. Despite the decrease, Amazon.com remains the 6th largest holding in Fort Washington’s portfolio, accounting for 2.7% of their total assets. The stake is currently valued at $406,774,000.

While Fort Washington trimmed their position, other institutional investors and hedge funds have been increasing their holdings in Amazon.com. Garrison Point Advisors LLC, Meridian Investment Counsel Inc., Ridgecrest Wealth Partners LLC, Stordahl Capital Management Inc., and Lutz Financial Services LLC all boosted their shares of the company during the first and second quarters. Institutional investors now own 72.20% of Amazon.com’s stock.

Analysts remain largely optimistic about Amazon’s future. While some have lowered their target prices in recent months, the majority maintain a “Buy” rating for the company. MarketBeat.com reports an average rating of “Buy” with a consensus target price of $222.84.

Amazon.com recently reported strong quarterly earnings results, beating analyst expectations on both earnings per share and revenue. However, insiders have been selling shares of the company in recent months. CEO Andrew R. Jassy sold 20,784 shares in August, while SVP David Zapolsky sold 4,710 shares in June.

Amazon.com, Inc. continues to be a major player in the e-commerce and cloud computing industries, with its AWS division remaining a key driver of growth. The company’s stock opened at $193.96 on Wednesday, with a market capitalization of $2.02 trillion.

Read More