5 Best Vanguard Stocks to Buy Now

3. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 279

Percentage of Vanguard’s Stake: 3.69%

Vanguard owns more than 9.5 million shares of Amazon.com, Inc. (NASDAQ:AMZN), worth $31.20 billion, representing 3.69% of the total securities. The tech giant is the third largest holding in Vanguard’s portfolio. 

Amazon.com, Inc. (NASDAQ:AMZN) reported Q1 2022 results on April 28, posting a loss per share of $7.56, missing market estimates by $16.05. The revenue grew 7.30% year-over-year to $116.44 billion, but it fell short of analysts’ predictions by $67.09 million. 

On May 2, Wedbush removed Amazon.com, Inc. (NASDAQ:AMZN) from its Best Ideas List given its investment price discipline. Analyst Michael Pachter maintained an Outperform rating and a price target of $3,500 on the shares.

According to the fourth quarter database of Insider Monkey, 279 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN), compared to 242 funds in the preceding quarter. Fisher Asset Management held a notable stake in the company, with 2.16 million shares worth $7.2 billion. 

Here is what Oakmark Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter:

“Amazon is the leading e-commerce and cloud-computing provider in the world. In e-commerce, two-thirds of U.S. households are Amazon Prime subscribers, and over half of all online product searches now start on Amazon. We believe the company’s strong customer loyalty and massive infrastructure are significant barriers to entry in a growing e-commerce market. Separately, Amazon Web Services (AWS) controls nearly half of the market in cloud computing. We believe AWS has become utility-like in nature and scale, and we expect healthy growth moving forward as IT workloads continue moving to the cloud. More recently, concerns about rising investment spending have weighed on the stock-as they have in times past-providing us another opportunity to purchase shares at an attractive multiple of normalized earnings and a discount to its peer-weighted enterprise value-to-sales multiple.”