Armbruster Capital Management Inc. Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Armbruster Capital Management Inc. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,434 shares of the e-commerce giant’s stock after buying an additional 211 shares during the quarter. Armbruster Capital Management Inc.’s holdings in Amazon.com were worth $277,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Amazon.com in the fourth quarter worth about $17,700,551,000. Vanguard Group Inc. increased its position in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Swedbank AB purchased a new position in Amazon.com in the 1st quarter worth approximately $2,239,757,000. Capital World Investors lifted its position in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMZN has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Piper Sandler lowered their target price on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Tigress Financial increased their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has an average rating of “Buy” and an average price target of $222.84.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the sale, the insider now owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeffrey P. Bezos sold 1,228,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $200.36, for a total value of $246,241,037.48. Following the completion of the sale, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Up 0.9 %

Shares of AMZN stock opened at $191.60 on Monday. The stock has a market cap of $1.99 trillion, a P/E ratio of 53.67, a PEG ratio of 1.39 and a beta of 1.14. The company’s fifty day simple moving average is $178.54 and its two-hundred day simple moving average is $182.10. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Amazon.com Company 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.