Fifth Third Wealth Advisors LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 311,425 shares of the e-commerce giant’s stock after acquiring an additional 8,184 shares during the period. Amazon.com makes up 2.0% of Fifth Third Wealth Advisors LLC’s investment portfolio, making the stock its 9th largest position. Fifth Third Wealth Advisors LLC’s holdings in Amazon.com were worth $77,592,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. State Street Corp raised its position in shares of Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant’s stock worth $95,504,904,000 after buying an additional 21,398,025 shares during the period. Bank of America Corp DE purchased a new stake in Amazon.com during the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp purchased a new stake in Amazon.com during the second quarter valued at about $16,341,405,000. Amundi grew its position in Amazon.com by 3.9% during the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock valued at $15,211,393,000 after acquiring an additional 2,421,739 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Amazon.com during the second quarter worth about $12,831,376,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Scotiabank cut their price target on shares of Amazon.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Friday, October 30th. HSBC reissued a “buy” rating and set a $310.00 price target on shares of Amazon.com in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of Amazon.com in a report on Friday, October 30th. Piper Sandler reiterated an “overweight” rating on shares of Amazon.com in a research note on Friday, October 30th. Finally, Bank of America reiterated a “buy” rating and set a $317.00 target price on shares of Amazon.com in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.
Get Our Latest Stock Report on Amazon.com
Amazon.com Trading Down 0.3%
Shares of AMZN stock opened at $259.30 on Friday. The stock has a fifty day moving average of $253.96 and a two-hundred day moving average of $243.57. The firm has a market capitalization of $2.80 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.49. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $287.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.99.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The firm had revenue of $201.94 billion during the quarter, compared to analyst estimates of $202.22 billion. During the same quarter last year, the company earned $1.95 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Douglas J. Herrington sold 6,362 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $1,647,821.62. Following the completion of the sale, the chief executive officer directly owned 476,681 shares of the company’s stock, valued at approximately $123,465,145.81. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the sale, the senior vice president owned 41,190 shares of the company’s stock, valued at approximately $10,699,926.30. This represents a 18.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,589 shares of company stock valued at $18,545,595 over the last 90 days. 8.90% of the stock is owned by corporate insiders.
Amazon.com News Roundup
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
- Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
- Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
- Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
- Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs
About Amazon.com
Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.
Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.
See Also
- Five stocks we like better than Amazon.com
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN – Free Report).
Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.
