Weaver Capital Management LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Weaver Capital Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% in the third quarter, HoldingsChannel reports. The firm owned 19,728 shares of the e-commerce giant’s stock after acquiring an additional 3,203 shares during the period. Amazon.com makes up about 1.1% of Weaver Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Weaver Capital Management LLC’s holdings in Amazon.com were worth $3,676,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMZN. Garrison Point Advisors LLC grew its position in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares in the last quarter. O Connor Financial Group LLC lifted its stake in Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC boosted its holdings in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares during the period. Finally, O Dell Group LLC increased its stake in Amazon.com by 0.4% during the first quarter. O Dell Group LLC now owns 13,638 shares of the e-commerce giant’s stock valued at $2,460,000 after purchasing an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMZN shares. BMO Capital Markets restated an “outperform” rating and issued a $236.00 price target (up from $230.00) on shares of Amazon.com in a research report on Friday, November 1st. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank upped their target price on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.77.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $201.45 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The company has a fifty day moving average price of $193.33 and a 200 day moving average price of $186.38. The stock has a market cap of $2.12 trillion, a P/E ratio of 43.14, a PEG ratio of 1.32 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Amazon.com 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.