International Assets Investment Management LLC Increases Holdings in Amazon.com, Inc. $AMZN

International Assets Investment Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,683 shares of the e-commerce giant’s stock after purchasing an additional 4,006 shares during the period. Amazon.com comprises about 0.9% of International Assets Investment Management LLC’s investment portfolio, making the stock its 9th biggest position. International Assets Investment Management LLC’s holdings in Amazon.com were worth $38,670,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares in the last quarter. State Street Corp lifted its holdings in Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock worth $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth approximately $32,868,735,000. Finally, Auto Owners Insurance Co increased its stake in shares of Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares in the company, valued at $11,060,750.70. This trade represents a 18.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,425 shares of company stock worth $37,715,464 over the last three months. 8.90% of the stock is owned by company insiders.

Amazon.com Stock Down 0.7%

Shares of AMZN stock opened at $232.11 on Friday. The company’s fifty day simple moving average is $248.26 and its two-hundred day simple moving average is $236.32. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The stock has a market cap of $2.50 trillion, a P/E ratio of 27.76, a PEG ratio of 1.75 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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 firm had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. During the same quarter last year, the business posted $1.59 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Amazon.com News Summary

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMZN. Phillip Securities upgraded shares of Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 target price on the stock in a research note on Wednesday, May 13th. Monness Crespi & Hardt increased their price target on Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. DZ Bank upped their price objective on Amazon.com from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets increased their target price on Amazon.com from $310.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.