Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 948.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 818 shares of the e-commerce giant’s stock after purchasing an additional 740 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Amazon.com were worth $2,667,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $14,053,756,000. Castleview Partners LLC purchased a new stake in Amazon.com during the fourth quarter valued at approximately $1,143,000. Fairfield Bush & CO. increased its holdings in Amazon.com by 28,715.3% during the fourth quarter. Fairfield Bush & CO. now owns 1,336,741 shares of the e-commerce giant’s stock valued at $11,353,000 after buying an additional 1,332,102 shares during the last quarter. SG Americas Securities LLC increased its holdings in Amazon.com by 124.5% during the first quarter. SG Americas Securities LLC now owns 220,530 shares of the e-commerce giant’s stock valued at $718,917,000 after buying an additional 1,120,660 shares during the last quarter. Finally, State Street Corp grew its position in shares of Amazon.com by 4.3% during the 4th quarter. State Street Corp now owns 17,021,616 shares of the e-commerce giant’s stock valued at $56,755,855,000 after acquiring an additional 698,970 shares during the period. Hedge funds and other institutional investors own 57.15% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on AMZN shares. JPMorgan Chase & Co. reduced their price objective on Amazon.com from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. StockNews.com raised Amazon.com from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Itau BBA Securities started coverage on Amazon.com in a research note on Tuesday, July 26th. They set an “outperform” rating and a $146.00 price objective for the company. Truist Financial restated a “buy” rating and set a $175.00 target price on shares of Amazon.com in a research note on Friday, June 17th. Finally, Canaccord Genuity Group raised their price objective on shares of Amazon.com from $185.00 to $200.00 in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.99.
Amazon.com Trading Down 1.5 %
AMZN stock opened at $126.77 on Thursday. The company has a market capitalization of $1.29 trillion, a PE ratio of 113.65, a P/E/G ratio of 5.83 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68. Amazon.com, Inc. has a 12 month low of $101.26 and a 12 month high of $188.11. The firm’s 50-day moving average is $125.52 and its 200 day moving average is $132.89.
Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The company had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same period in the prior year, the firm posted $0.76 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Amazon.com, Inc. will post 0.98 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Andrew R. Jassy sold 23,620 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the transaction, the chief executive officer now owns 1,892,000 shares in the company, valued at $269,212,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,480 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $134.23, for a total transaction of $467,120.40. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $16,078,069.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 23,620 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the completion of the transaction, the chief executive officer now directly owns 1,892,000 shares of the company’s stock, valued at approximately $269,212,680. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,108 shares of company stock worth $9,736,335. 12.70% of the stock is currently owned by company insiders.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
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