AMG National Trust Bank Boosts Stock Holdings in Amazon.com, Inc. $AMZN

AMG National Trust Bank grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 133,345 shares of the e-commerce giant’s stock after buying an additional 6,172 shares during the quarter. AMG National Trust Bank’s holdings in Amazon.com were worth $27,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AMZN. Red Crane Wealth Management LLC lifted its holdings in Amazon.com by 2.3% during the 1st quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock worth $346,000 after purchasing an additional 38 shares in the last quarter. Robinson Smith Wealth Advisors LLC grew its holdings in Amazon.com by 0.7% during the 1st quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant’s stock valued at $1,147,000 after buying an additional 40 shares in the last quarter. Sfam LLC grew its holdings in Amazon.com by 3.4% during the 1st quarter. Sfam LLC now owns 1,224 shares of the e-commerce giant’s stock valued at $255,000 after buying an additional 40 shares in the last quarter. Lifelong Wealth Advisors Inc. increased its position in shares of Amazon.com by 2.4% during the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock valued at $402,000 after buying an additional 41 shares during the period. Finally, Financial Connections Group Inc. lifted its holdings in shares of Amazon.com by 2.6% in the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock worth $376,000 after buying an additional 42 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $232.11 on Monday. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The firm has a fifty day moving average of $248.26 and a 200 day moving average of $236.34. The firm has a market capitalization of $2.50 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter last year, the business posted $1.59 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at approximately $129,624,275. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,706 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the sale, the director owned 74,948 shares of the company’s stock, valued at $20,462,302.96. The trade was a 4.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 140,425 shares of company stock worth $37,715,464. 8.90% of the stock is currently owned by insiders.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMZN shares. Weiss Ratings upgraded shares of Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Wolfe Research reiterated an “outperform” rating and issued a $320.00 target price (up from $245.00) on shares of Amazon.com in a research note on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 1st. The Goldman Sachs Group restated a “buy” rating and set a $335.00 price target on shares of Amazon.com in a research report on Thursday, July 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $312.91.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.