These 6 Money Experts Own Amazon Stock — Should You?
Written by
Vance Cariaga
Edited by
Rebekah Evans
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Amazon shareholders have plenty to cheer about these days thanks to a stock price that is up by more than one-fifth already in 2024. The news got even better earlier this week when Amazon breezed past first-quarter earnings expectations, pushing the stock close to its record high. Given Amazon’s dominance in e-commerce and cloud computing, it’s no wonder the company attracts some of the top names in investing.
On April 11, 2024, Amazon shares hit a new all-time high and closed the day at $189.05, Investor’s Business Daily reported. The stock hit a mini-slump after that, but rebounded this week when Amazon posted first-quarter earnings of 98 cents a share. That was more than triple the prior year’s earnings and well above analyst estimates for 83 cents, CNBC reported.
It’s fair to say Amazon didn’t need a blowout quarter to attract leading investors — it’s been doing that almost since Jeff Bezos launched the company as an online bookseller nearly three decades ago. Amazon’s meteoric rise since then has made Bezos one of the world’s richest people, with a net worth of more than $190 billion.
It helps that the company attracts some heavy hitters in the investment industry. Here are six money experts who own Amazon stock, according to Motley Fool (holdings are as of December 31, 2023).
Also see how much your return would be today if you invested $1,000 in Amazon stock in 2014.
Bezos
- 9.02% of shares outstanding
Although Bezos no longer serves as CEO of Amazon, he still serves as executive chairman and has a major stake in the company. Other top individual shareholders include current CEO Andrew Jassy.
Warren Buffett
Okay, the legendary “Oracle of Omaha” and CEO of Berkshire Hathaway doesn’t technically own Amazon shares himself — Berkshire Hathaway does. As of November 2023, the investment company owned 10 million Amazon shares, according to Motley Fool. But it’s worth noting that Buffett did not void the investment.
Vanguard Group
- 7.42% of shares outstanding
Vanguard is the top institutional investor in Amazon, with several of its mutual funds holding at least 10 million Amazon shares.
BlackRock
- 6.04% of shares outstanding
Blackrock’s iShares Core S&P 500 ETF (exchange-traded fund) owns around 90.5 million Amazon shares.
State Street
- 3.32% of shares outstanding
State Street created the world’s first ETF, the SPDR S&P 500 ETF Trust, which debuted in 1993 and currently owns nearly 103 million Amazon shares.
Fidelity Management & Research
- 3.04% of shares outstanding
The Fidelity 500 ETF, which is similar to an S&P 500 index fund, owns nearly 108 million Amazon shares.
Should You Own Amazon Stock?
If you’re thinking about investing in Amazon, you have some good company. Stock analysts remain bullish on the stock — not just because of its powerhouse e-commerce and cloud computing businesses, but also because of its forays into other areas such as artificial intelligence.
As IBD noted, of the 63 Amazon analysts following Amazon, 95% hold a Buy rating on the stock, according to FactSet. On average, the analysts have a 12-month price target of $212.45 for Amazon, which represents a 14% upside to its current price of about $186.
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