Summit Investment Advisors Inc. Has $67.56 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Investment Advisors Inc. lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 307,962 shares of the e-commerce giant’s stock after purchasing an additional 7,771 shares during the quarter. Amazon.com comprises about 60.2% of Summit Investment Advisors Inc.’s holdings, making the stock its 4th biggest holding. Summit Investment Advisors Inc.’s holdings in Amazon.com were worth $67,564,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Momentous Wealth Management Inc. bought a new position in shares of Amazon.com in the fourth quarter valued at about $749,000. Segall Bryant & Hamill LLC raised its holdings in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after buying an additional 39,696 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock worth $759,434,000 after purchasing an additional 2,196,353 shares during the last quarter. Patton Albertson Miller Group LLC raised its holdings in Amazon.com by 2.7% during the 4th quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant’s stock worth $4,122,000 after purchasing an additional 495 shares during the last quarter. Finally, Leisure Capital Management raised its holdings in Amazon.com by 1.3% during the 4th quarter. Leisure Capital Management now owns 5,709 shares of the e-commerce giant’s stock worth $1,252,000 after purchasing an additional 76 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMZN shares. Rosenblatt Securities boosted their price objective on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. UBS Group reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Benchmark reissued a “buy” rating and set a $260.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Truist Financial dropped their price objective on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Tigress Financial boosted their price objective on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.09.

Amazon.com Trading Down 0.9%

NASDAQ AMZN opened at $203.93 on Friday. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The business has a 50 day moving average price of $190.57 and a 200-day moving average price of $208.66. 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 released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Insiders sold a total of 99,537 shares of company stock worth $20,018,625 over the last quarter. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Profile

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.