Lord Abbett & CO. LLC Has $404.08 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Lord Abbett & CO. LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 27.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841,846 shares of the e-commerce giant’s stock after acquiring an additional 391,804 shares during the period. Amazon.com makes up 1.3% of Lord Abbett & CO. LLC’s holdings, making the stock its 6th biggest holding. Lord Abbett & CO. LLC’s holdings in Amazon.com were worth $404,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Cable Hill Partners LLC raised its position in shares of Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock valued at $2,104,000 after buying an additional 44 shares in the last quarter. Quattro Financial Advisors LLC raised its position in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. Northern Capital Management Inc. raised its position in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after buying an additional 45 shares in the last quarter. White Wing Wealth Management raised its position in shares of Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after buying an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in shares of Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after buying an additional 48 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Up 0.2%

Shares of NASDAQ AMZN opened at $205.59 on Friday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market cap of $2.18 trillion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The firm has a 50-day moving average of $189.33 and a 200 day moving average of $208.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same period last year, the company posted $0.98 EPS. Amazon.com’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Oppenheimer decreased their target price on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Maxim Group lifted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Morgan Stanley decreased their target price on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.09.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 5,501 shares of Amazon.com stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the transaction, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the transaction, the director now directly owns 5,465 shares of the company’s stock, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,798 shares of company stock valued at $17,696,733 in the last three months. Company insiders own 9.70% of the company’s stock.

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.