Brown Brothers Harriman & Co. Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Brown Brothers Harriman & Co. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the third quarter, Holdings Channel reports. The fund owned 2,011,843 shares of the e-commerce giant’s stock after purchasing an additional 2,393 shares during the quarter. Amazon.com accounts for approximately 2.5% of Brown Brothers Harriman & Co.’s portfolio, making the stock its 15th largest position. Brown Brothers Harriman & Co.’s holdings in Amazon.com were worth $374,867,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Icon Wealth Advisors LLC raised its holdings in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the third quarter valued at about $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com during the third quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $224.19 on Monday. The business has a 50-day moving average of $213.07 and a 200 day moving average of $194.21. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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 (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Tigress Financial upped their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a research report on Wednesday, November 20th. Wedbush upped their target price on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley upped their target price on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.44.

Insider Activity

In other news, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

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.