Synovus Financial Corp Decreases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Synovus Financial Corp decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 397,592 shares of the e-commerce giant’s stock after selling 8,650 shares during the period. Amazon.com accounts for approximately 1.1% of Synovus Financial Corp’s holdings, making the stock its 16th biggest holding. Synovus Financial Corp’s holdings in Amazon.com were worth $87,228,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. State Street Corp raised its stake in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. FMR LLC lifted its position in Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC grew its stake in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Amazon.com in the fourth quarter valued at about $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America dropped their target price on Amazon.com from $257.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Raymond James restated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Rosenblatt Securities increased their price target on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price objective on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.09.

Amazon.com Stock Up 0.5 %

Shares of NASDAQ:AMZN opened at $193.06 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market cap of $2.05 trillion, a P/E ratio of 34.91, a PEG ratio of 1.50 and a beta of 1.30. The business has a fifty day moving average of $188.50 and a two-hundred day moving average of $207.95. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,620 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $10,933,860. This trade represents a 22.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total transaction of $476,675.00. Following the transaction, the chief executive officer now owns 506,974 shares of the company’s stock, valued at approximately $96,664,732.58. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,298 shares of company stock valued at $23,818,478 over the last quarter. 9.70% of the stock is owned by insiders.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.