Lord Abbett & CO. LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Lord Abbett & CO. LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,469 shares of the e-commerce giant’s stock after purchasing an additional 11,118 shares during the quarter. Amazon.com accounts for approximately 0.9% of Lord Abbett & CO. LLC’s portfolio, making the stock its 12th largest holding. Lord Abbett & CO. LLC’s holdings in Amazon.com were worth $350,344,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMZN. Gibson Wealth Advisors LLC purchased a new position in shares of Amazon.com in the 4th quarter worth about $33,000. Leverty Financial Group LLC purchased a new position in shares of Amazon.com in the 4th quarter worth about $36,000. MBM Wealth Consultants LLC raised its holdings in shares of Amazon.com by 57.1% in the 4th quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock worth $37,000 after purchasing an additional 4 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth about $39,000. Finally, William Allan LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $47,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 0.3 %

Shares of NASDAQ AMZN opened at $129.82 on Friday. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 116.38, a P/E/G ratio of 5.67 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $101.26 and a 12 month high of $188.11. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $127.59 and a 200-day simple moving average of $131.77.

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The business had revenue of $121.23 billion for the quarter, compared to analyst estimates of $119.16 billion. Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. Sell-side analysts predict that Amazon.com, Inc. will post 0.98 EPS for the current year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 7,448 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $134.25, for a total transaction of $999,894.00. Following the transaction, the chief executive officer now directly owns 498,572 shares of the company’s stock, valued at $66,933,291. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 7,448 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $134.25, for a total value of $999,894.00. Following the transaction, the chief executive officer now directly owns 498,572 shares of the company’s stock, valued at approximately $66,933,291. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 23,620 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $142.29, for a total value of $3,360,889.80. Following the completion of the transaction, the chief executive officer now directly owns 1,892,000 shares in the company, valued at $269,212,680. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,108 shares of company stock valued at $9,736,335. Company insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Tigress Financial reissued a “buy” rating and set a $232.00 price target on shares of Amazon.com in a research report on Wednesday, June 29th. Truist Financial reissued a “buy” rating and set a $175.00 price target on shares of Amazon.com in a research report on Friday, June 17th. Oppenheimer reduced their price target on Amazon.com from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, July 25th. MKM Partners reduced their price target on Amazon.com from $180.00 to $165.00 in a research report on Monday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Amazon.com from $174.00 to $155.00 in a research report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.61.

Amazon.com Company Profile

(Get Rating)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

Further Reading

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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