Adell Harriman & Carpenter Inc. Purchases 193,222 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Adell Harriman & Carpenter Inc. increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,908.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,349 shares of the e-commerce giant’s stock after buying an additional 193,222 shares during the quarter. Amazon.com comprises about 2.6% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 6th largest position. Adell Harriman & Carpenter Inc.’s holdings in Amazon.com were worth $21,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC grew its holdings in shares of Amazon.com by 1,764.2% during the second quarter. Jennison Associates LLC now owns 48,142,889 shares of the e-commerce giant’s stock worth $5,113,256,000 after buying an additional 45,560,351 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 1.6% during the first quarter. Vanguard Group Inc. now owns 33,965,498 shares of the e-commerce giant’s stock worth $110,725,825,000 after buying an additional 543,744 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Amazon.com by 1,923.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,747,428 shares of the e-commerce giant’s stock worth $2,947,054,000 after buying an additional 26,375,927 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Amazon.com by 1,969.8% during the second quarter. CIBC Private Wealth Group LLC now owns 12,249,826 shares of the e-commerce giant’s stock worth $1,301,054,000 after buying an additional 11,657,996 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Amazon.com by 1,895.2% during the second quarter. New York State Teachers Retirement System now owns 10,349,048 shares of the e-commerce giant’s stock worth $1,099,172,000 after buying an additional 9,830,359 shares during the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Amazon.com Stock Up 1.0 %

Shares of NASDAQ AMZN opened at $94.13 on Thursday. Amazon.com, Inc. has a 52-week low of $85.87 and a 52-week high of $181.68. The firm has a fifty day moving average of $109.13 and a 200-day moving average of $116.76. The stock has a market capitalization of $960.28 billion, a PE ratio of 86.40, a P/E/G ratio of 6.18 and a beta of 1.23. The company has a quick ratio of 0.68, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The company had revenue of $127.10 billion during the quarter, compared to analysts’ expectations of $127.47 billion. During the same period in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts anticipate that Amazon.com, Inc. will post 0.74 EPS for the current year.

Insider Activity

In related news, CEO Adam Selipsky sold 345 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the sale, the chief executive officer now directly owns 112,795 shares of the company’s stock, valued at approximately $11,505,090. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Amazon Com Inc sold 250,000 shares of the company’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the completion of the sale, the insider now directly owns 14,178,445 shares of the company’s stock, valued at approximately $334,753,086.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 345 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $102.00, for a total transaction of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares of the company’s stock, valued at $11,505,090. The disclosure for this sale can be found here. Insiders sold 303,988 shares of company stock valued at $11,164,283 in the last ninety days. Company insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research reports. JMP Securities lowered their price target on Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Cowen lowered their price objective on Amazon.com from $195.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Barclays lowered their price objective on Amazon.com from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Robert W. Baird lowered their price objective on Amazon.com from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Finally, DA Davidson lowered their price objective on Amazon.com from $151.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $149.40.

Amazon.com Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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