Allegheny Financial Group LTD Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Allegheny Financial Group LTD grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,501 shares of the e-commerce giant’s stock after buying an additional 426 shares during the quarter. Allegheny Financial Group LTD’s holdings in Amazon.com were worth $714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after purchasing an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares during the last quarter. FMR LLC grew its holdings in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares during the last quarter. Northern Trust Corp grew its holdings in Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock worth $10,089,669,000 after acquiring an additional 90,167,792 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Amazon.com by 1,909.7% in the 2nd quarter. Swiss National Bank now owns 39,731,440 shares of the e-commerce giant’s stock worth $4,219,876,000 after acquiring an additional 37,754,468 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Activity

In related news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total transaction of $50,835.00. Following the transaction, the chief executive officer now directly owns 137,300 shares in the company, valued at approximately $13,959,291. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total transaction of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,599 shares of company stock valued at $2,781,085. 12.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Credit Suisse Group cut their price target on shares of Amazon.com from $150.00 to $140.00 in a report on Tuesday, April 25th. Cowen lifted their target price on shares of Amazon.com from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $135.00 to $145.00 in a research note on Friday, April 28th. Truist Financial lifted their target price on shares of Amazon.com from $142.00 to $144.00 in a research note on Wednesday, April 12th. Finally, Morgan Stanley lifted their target price on shares of Amazon.com from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Three research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $143.12.

Amazon.com Price Performance

Amazon.com stock opened at $115.01 on Tuesday. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 273.83, a PEG ratio of 4.04 and a beta of 1.26. The firm’s fifty day moving average is $104.08 and its 200 day moving average is $97.25. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The business had revenue of $127.36 billion for the quarter, compared to the consensus estimate of $124.57 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 1.57 EPS for the current fiscal year.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.