IFG Advisory LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

IFG Advisory LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2,200.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,286 shares of the e-commerce giant’s stock after purchasing an additional 36,622 shares during the quarter. IFG Advisory LLC’s holdings in Amazon.com were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Jennison Associates LLC raised its stake in shares of Amazon.com by 1,764.2% in 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 purchasing an additional 45,560,351 shares during the last quarter. Vanguard Group Inc. increased its position in 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 valued at $110,725,825,000 after acquiring an additional 543,744 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in 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 valued at $2,947,054,000 after acquiring an additional 26,375,927 shares during the last quarter. TD Asset Management Inc. increased its position in Amazon.com by 1,795.3% during the second quarter. TD Asset Management Inc. now owns 18,043,695 shares of the e-commerce giant’s stock valued at $1,916,420,000 after acquiring an additional 17,091,671 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in 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 valued at $1,301,054,000 after acquiring an additional 11,657,996 shares during the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Amazon.com Trading Up 1.0 %

Shares of NASDAQ AMZN opened at $94.13 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.94. The business’s 50 day moving average price is $108.44 and its 200-day moving average price is $116.60. Amazon.com, Inc. has a fifty-two week low of $85.87 and a fifty-two week high of $181.68. The company has a market cap of $960.28 billion, a price-to-earnings ratio of 86.40, a PEG ratio of 6.23 and a beta of 1.23.

Amazon.com (NASDAQ:AMZNGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. Amazon.com had a return on equity of 14.44% and a net margin of 2.25%. The firm had revenue of $127.10 billion for the quarter, compared to the consensus estimate of $127.47 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that Amazon.com, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird reduced their price objective on Amazon.com from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. JPMorgan Chase & Co. reduced their price objective on Amazon.com from $175.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Sanford C. Bernstein cut their price target on Amazon.com from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Citigroup cut their price target on Amazon.com from $185.00 to $145.00 and set a “buy” rating for the company in a report on Friday, October 28th. Finally, Wells Fargo & Company cut their price target on Amazon.com from $200.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.40.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 520 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $114.61, for a total value of $59,597.20. Following the transaction, the chief executive officer now owns 114,660 shares of the company’s stock, valued at $13,141,182.60. The sale was disclosed in a legal 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 stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $23.61, for a total value of $5,902,500.00. Following the transaction, the insider now owns 14,178,445 shares of the company’s stock, valued at $334,753,086.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 520 shares of the stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $114.61, for a total value of $59,597.20. Following the sale, the chief executive officer now directly owns 114,660 shares in the company, valued at approximately $13,141,182.60. The disclosure for this sale can be found here. Insiders have sold a total of 303,988 shares of company stock valued at $11,164,283 over the last quarter. 12.70% of the stock is owned by corporate insiders.

About Amazon.com

(Get Rating)

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.

See Also

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

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