Richard C. Young & CO. LTD. Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Richard C. Young & CO. LTD. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,759 shares of the e-commerce giant’s stock after purchasing an additional 1,412 shares during the quarter. Amazon.com accounts for about 1.8% of Richard C. Young & CO. LTD.’s holdings, making the stock its 19th largest holding. Richard C. Young & CO. LTD.’s holdings in Amazon.com were worth $17,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC lifted its holdings in shares of Amazon.com by 0.5% during the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amazon.com by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amazon.com by 2.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,266,582,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 2.9%

NASDAQ AMZN opened at $230.98 on Friday. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a fifty day moving average of $221.06 and a two-hundred day moving average of $208.69. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.21, a PEG ratio of 1.51 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the completion of the transaction, the chief executive officer owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the transaction, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMZN shares. Wall Street Zen upgraded Amazon.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of Amazon.com in a report on Friday, August 1st. BMO Capital Markets increased their price target on shares of Amazon.com from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. HSBC upped their price target on Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Finally, Truist Financial increased their target price on shares of Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $262.87.

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.