Citizens Financial Group Inc. RI Invests $163.64 Million in Amazon.com, Inc. $AMZN

Citizens Financial Group Inc. RI acquired a new stake in Amazon.com, Inc. (NASDAQ: AMZN) during the second quarter, purchasing 686,590 shares valued at approximately $163.64 million, according to its latest SEC filing. The purchase positions Amazon as the firm's eighth-largest holding, comprising roughly 2.0% of its portfolio. Overall institutional ownership in Amazon now stands at 72.20%, supported by additional position increases and new stakes from firms including Northstar Financial Companies, Gryphon Financial Partners, and First Citizens Bank & Trust. Amazon reported robust quarterly financial results, generating $200.61 billion in revenue (up 19.6% year-over-year) and earnings per share of $5.75, substantially outpacing consensus forecasts of $1.82. Wall Street sentiment remains overwhelmingly positive with a consensus 'Moderate Buy' rating and an average price target of $323.26. Analyst optimism is primarily anchored on accelerating AWS cloud growth, enterprise adoption of generative AI tools like Amazon Bedrock, and potential multi-billion-dollar infrastructure partnerships.