Montgomery Investment Management Inc. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 1,900.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the e-commerce giant's stock after purchasing an additional 2,185 shares during the quarter. Montgomery Investment Management Inc.'s holdings in Amazon.com were worth $244,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in AMZN. Jennison Associates LLC increased its position in Amazon.com by 1,764.2% during the 2nd quarter. Jennison Associates LLC now owns 48,142,889 shares of the e-commerce giant's stock valued at $5,113,256,000 after purchasing an additional 45,560,351 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Amazon.com by 1,923.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,747,428 shares of the e-commerce giant's stock valued at $2,947,054,000 after purchasing an additional 26,375,927 shares during the period. TD Asset Management Inc. increased its position in Amazon.com by 1,795.3% during the 2nd quarter. TD Asset Management Inc. now owns 18,043,695 shares of the e-commerce giant's stock valued at $1,916,420,000 after purchasing an additional 17,091,671 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Amazon.com by 1,969.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 12,249,826 shares of the e-commerce giant's stock worth $1,301,054,000 after buying an additional 11,657,996 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Amazon.com by 1,895.2% in the 2nd quarter. New York State Teachers Retirement System now owns 10,349,048 shares of the e-commerce giant's stock worth $1,099,172,000 after buying an additional 9,830,359 shares during the period. 57.15% of the stock is owned by hedge funds and other institutional investors.
Get Amazon.com alerts:Amazon.com Trading Down 0.8 %
Amazon.com stock opened at $93.41 on Friday. The firm has a 50 day moving average of $107.80 and a 200 day moving average of $116.45. The firm has a market capitalization of $952.94 billion, a price-to-earnings ratio of 85.74, a P/E/G ratio of 6.29 and a beta of 1.23. Amazon.com, Inc. has a 12-month low of $85.87 and a 12-month high of $181.68. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43.
Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.06. The company had revenue of $127.10 billion during the quarter, compared to analyst estimates of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, research analysts predict that Amazon.com, Inc. will post 0.74 earnings per share for the current year.Insider Buying and Selling at Amazon.com
In other Amazon.com news, CEO Adam Selipsky sold 345 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the sale, the chief executive officer now directly owns 112,795 shares of the company's stock, valued at approximately $11,505,090. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Amazon.com news, CEO Douglas J. Herrington sold 7,456 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $700,864.00. Following the completion of the sale, the chief executive officer now directly owns 533,435 shares of the company's stock, valued at approximately $50,142,890. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 345 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares of the company's stock, valued at $11,505,090. The disclosure for this sale can be found here. Insiders sold a total of 303,988 shares of company stock valued at $11,164,283 in the last three months. 12.70% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AMZN. Needham & Company LLC reduced their target price on shares of Amazon.com from $175.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, October 28th. Wells Fargo & Company reduced their target price on shares of Amazon.com from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Atlantic Securities reduced their target price on shares of Amazon.com from $160.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Barclays reduced their target price on shares of Amazon.com from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $175.00 target price on shares of Amazon.com in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.40.
Amazon.com Profile
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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
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