Truist Financial Corp Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Truist Financial Corp grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 4,190,147 shares of the e-commerce giant’s stock after purchasing an additional 75,872 shares during the quarter. Amazon.com comprises 1.4% of Truist Financial Corp’s portfolio, making the stock its 9th biggest holding. Truist Financial Corp’s holdings in Amazon.com were worth $919,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after buying an additional 1,984,592 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Amazon.com by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 47,156,540 shares of the e-commerce giant’s stock valued at $8,843,714,000 after acquiring an additional 257,072 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 1.1 %

NASDAQ:AMZN opened at $195.74 on Tuesday. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.50 and a beta of 1.19. The business’s 50-day moving average price is $221.02 and its two-hundred day moving average price is $207.92. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,298 shares of company stock worth $22,871,828 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMZN. Phillip Securities lowered Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Citigroup reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Roth Mkm increased their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price target on shares of Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $260.65.

About Amazon.com

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.