Steinberganna Wealth Management disclosed in its latest SEC filing that it acquired a new position of 6,893 Amazon shares during Q3, representing an investment totaling approximately $1.513 million. This purchase now accounts for roughly 0.7% of the firm’s overall portfolio, making Amazon its 28th largest holding and underscoring growing institutional confidence in the company’s long-term growth trajectory.

Several of Wall Street’s largest investment managers have also increased their Amazon stakes in recent quarters. Vanguard Group added over 17.4 million shares during Q2, boosting its holding to 849.7 million shares and reinforcing its position as the company’s largest institutional owner. State Street grew its position by more than 5.1 million shares to 374.1 million shares, while Geode Capital Management increased its stake by 3.7 million shares to 216.7 million shares. Kingstone Capital Partners Texas executed a blockbuster transaction adding 132.6 million shares in Q2, and Norway’s sovereign wealth fund entered with a new position valued at $27.4 billion. Collectively, hedge funds and institutional investors now hold 72.2% of Amazon’s outstanding stock.

Recent SEC disclosures show that Amazon’s board and executive team have trimmed their holdings: director Daniel P. Huttenlocher sold 1,237 shares for proceeds of $280,316, representing a 4.5% reduction in his stake, and CEO Andy Jassy disposed of 19,872 shares for proceeds exceeding $4.3 million, a 0.9% decrease in his position. Over the past three months, insiders have sold a total of 79,734 shares for aggregate proceeds of $18.5 million. Insiders currently own 9.7% of the company’s equity.

In its Q3 earnings report, Amazon delivered earnings per share of $1.95, surpassing consensus estimates by $0.38, and reported revenue of $180.17 billion, up 13.4% year-over-year and outperforming forecast by $2.64 billion. The company achieved a net margin of 11.06% and a return on equity of 23.62%. Following the results, research firms including DA Davidson, Roth MKM and Benchmark raised their price targets and reaffirmed buy ratings, contributing to a consensus analyst target that now stands near $295.42. Expectations for full-year EPS of 6.31 further underline optimism around Amazon’s multi-business growth drivers, from e-commerce to AWS and advertising services.