Steinberganna Wealth Management initiated a new position of 6,893 shares in Amazon.com during Q3, according to its latest SEC filing. The investment, valued at approximately $1.513 million, now represents about 0.7% of the firm’s total portfolio, making Amazon its 28th-largest holding. This allocation underscores the firm’s conviction in Amazon’s long-term growth across retail and cloud services.

Several of the world’s largest asset managers also tweaked their Amazon stakes in Q2. Vanguard Group increased its share count by 17.45 million shares, lifting its total to roughly 849.7 million shares and cementing its role as the top institutional holder. State Street added 5.16 million shares to reach 374.1 million, while Geode Capital Management boosted its position by 3.72 million shares to 216.7 million. Kingstone Capital Partners Texas executed a massive purchase of 132.6 million shares—a 542,700% increase—bringing its stake to 132.6 million shares. Additionally, Norges Bank established a new position valued at $27.4 billion. Collectively, institutional ownership now stands at 72.2%.

Insiders have modestly trimmed their holdings over the past quarter, with Director Daniel P. Huttenlocher offloading 1,237 shares for proceeds of $280,317, reducing his direct stake by 4.52% to 26,148 shares. CEO Andrew R. Jassy sold 19,872 shares for $4.31 million, a 0.89% decline in his holdings, now totaling 2.208 million shares. In aggregate, insiders sold 79,734 shares worth $18.53 million over three months, representing 9.70% of total insider ownership.

In its latest quarter, Amazon reported revenue of $180.17 billion, surpassing consensus by nearly $2.6 billion, and delivered $1.95 EPS versus an expected $1.57, marking a 36% year-over-year EPS increase. Net margin expanded to 11.06% and return on equity reached 23.62%. Analysts have responded with upward price targets, with five major firms raising their forecasts between late October and early January, and consensus now reflects a “Moderate Buy” rating. Wall Street expects full-year EPS of 6.31, underpinned by double-digit revenue growth in core retail and AWS segments.