Meridian Investment Counsel Inc. Buys 2,948 Shares of Amazon.com, Inc. $AMZN

Meridian Investment Counsel Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 50.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,744 shares of the e-commerce giant’s stock after purchasing an additional 2,948 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Amazon.com were worth $2,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AMZN. Bank of America Corp DE acquired a new stake in Amazon.com during the 2nd quarter worth $22,218,775,000. Bank of New York Mellon Corp purchased a new stake in Amazon.com in the second quarter valued at $16,341,405,000. Legal & General Group Plc acquired a new position in Amazon.com in the second quarter valued at $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Amazon.com in the second quarter valued at $6,631,466,000. Finally, Jupiter Topco LLC purchased a new position in shares of Amazon.com during the second quarter worth about $5,910,083,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 4.6%

NASDAQ:AMZN opened at $250.38 on Friday. The firm has a market cap of $2.70 trillion, a P/E ratio of 20.14, a PEG ratio of 2.03 and a beta of 1.45. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $255.85 and its 200-day simple moving average is $253.33. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. The business had revenue of $200.61 billion during the quarter, compared to analysts’ expectations of $197.03 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 8.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup reiterated a “market outperform” rating on shares of Amazon.com in a research report on Friday, August 14th. Raymond James Financial reissued an “outperform” rating and issued a $390.00 target price (up from $280.00) on shares of Amazon.com in a research report on Friday, July 31st. Pivotal Research reissued a “buy” rating and issued a $333.00 target price (up from $320.00) on shares of Amazon.com in a research report on Friday, July 31st. Benchmark raised their price target on Amazon.com from $370.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Roth Capital reaffirmed a “buy” rating and set a $325.00 price target on shares of Amazon.com in a research report on Monday, August 3rd. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $322.53.

Insider Buying and Selling

In other news, CEO Matthew Garman sold 14,541 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares in the company, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their position. The transaction 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, CEO Douglas J. Herrington sold 6,362 shares of Amazon.com stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the completion of the sale, the chief executive officer directly owned 476,681 shares in the company, valued at approximately $123,465,145.81. The trade was a 1.32% decrease in their position. 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 worth $18,580,515 in the last ninety days. Insiders own 8.90% of the company’s stock.

Amazon.com News Summary

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Strong AWS and AI growth remain the central bull case. AWS is reportedly expanding at its fastest pace in 18 quarters, while Amazon’s custom Trainium chips are being made available to PyTorch developers. Analysts see cloud growth, advertising, operating leverage and AI infrastructure as potential drivers of substantial long-term upside. Amazon AI growth and upside analysis
• Positive Sentiment: Institutional and analyst support provided a counterpoint. Morgan Stanley named Amazon a top pick and raised its price target, while Citadel increased its Amazon position. Jefferies also said warehouse automation and Amazon’s logistics network could improve retail margins over time. Citadel Amazon stake and AI bubble article
• Positive Sentiment: Amazon continues to expand strategic growth opportunities. The company is involved in a proposed 960-megawatt nuclear project in Indiana, and data indicate it is gaining fresh-grocery market share from traditional supermarkets. Amazon nuclear energy project
• Neutral Sentiment: Third-quarter results are the immediate focus. Wall Street expects earnings growth, but investors are watching AWS growth, operating margins, free cash flow and management’s outlook for capital expenditures. The company’s recent spending plans reportedly approach $200 billion to $220 billion, making the earnings call particularly important. Amazon earnings preview
• Negative Sentiment: AI investment is raising return-on-capital concerns. Reports say some Nvidia-powered server racks purchased by Amazon are sitting idle because data centers lack sufficient electricity, while Amazon has also abandoned a planned Virginia data-center campus. Such developments could delay monetization of its massive infrastructure spending. Amazon Nvidia chips and data-center power report
• Negative Sentiment: Competitive, regulatory and labor risks remain overhangs. Debate over whether AI is in a bubble, Walmart’s more open approach to AI-agent commerce, a proposed bill targeting subsidies for large AI data centers, and renewed Teamsters pressure on delivery rules could increase uncertainty or costs. Amazon and Walmart AI-agent commerce article

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company’s principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.