Cumberland Partners Ltd Has $49.52 Million Stake in Amazon.com, Inc. $AMZN

Cumberland Partners Ltd grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 225,700 shares of the e-commerce giant’s stock after acquiring an additional 18,209 shares during the quarter. Amazon.com comprises 3.4% of Cumberland Partners Ltd’s investment portfolio, making the stock its 6th largest holding. Cumberland Partners Ltd’s holdings in Amazon.com were worth $49,516,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Lodestone Wealth Management LLC lifted its position in Amazon.com by 22.3% during the second quarter. Lodestone Wealth Management LLC now owns 12,785 shares of the e-commerce giant’s stock valued at $2,805,000 after acquiring an additional 2,334 shares during the last quarter. Absolute Capital Management LLC grew its holdings in Amazon.com by 18.5% in the second quarter. Absolute Capital Management LLC now owns 1,744 shares of the e-commerce giant’s stock worth $383,000 after purchasing an additional 272 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Amazon.com by 4.5% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,188 shares of the e-commerce giant’s stock worth $4,868,000 after purchasing an additional 961 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of Amazon.com by 1.7% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 143,987 shares of the e-commerce giant’s stock worth $31,589,000 after purchasing an additional 2,352 shares in the last quarter. Finally, Bronte Capital Management Pty Ltd. lifted its holdings in shares of Amazon.com by 14.2% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 388,156 shares of the e-commerce giant’s stock valued at $85,000 after purchasing an additional 48,158 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMZN. Morgan Stanley restated an “overweight” rating and set a $315.00 target price (up from $300.00) on shares of Amazon.com in a research note on Friday, October 31st. Sanford C. Bernstein set a $300.00 price target on Amazon.com and gave the stock an “outperform” rating in a report on Friday, October 31st. Desjardins boosted their price target on Amazon.com to $218.00 in a research note on Monday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Amazon.com in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Amazon.com in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fifty-seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.43.

Amazon.com Stock Up 0.5%

AMZN stock opened at $227.92 on Wednesday. The company has a market capitalization of $2.44 trillion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $258.60. The firm’s fifty day simple moving average is $228.84 and its 200-day simple moving average is $224.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.38. The company had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $233.22, for a total transaction of $583,050.00. Following the sale, the chief executive officer directly owned 505,934 shares of the company’s stock, valued at $117,993,927.48. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew S. Garman sold 17,768 shares of Amazon.com stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.90, for a total value of $3,853,879.20. Following the transaction, the chief executive officer owned 6,273 shares of the company’s stock, valued at approximately $1,360,613.70. This represents a 73.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,234 shares of company stock valued at $19,076,767. 10.80% 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.