CMC Financial Group Takes $232,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

CMC Financial Group bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,200 shares of the e-commerce giant’s stock, valued at approximately $232,000. Amazon.com accounts for about 0.4% of CMC Financial Group’s portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Vanguard Group Inc. raised its stake in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Norges Bank acquired a new stake in Amazon.com during the 4th quarter valued at $17,700,551,000. Capital Research Global Investors increased its stake in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the period. Bank of New York Mellon Corp lifted its holdings in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock worth $1,220,621,322 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $191.60 on Friday. The company’s fifty day moving average is $178.54 and its two-hundred day moving average is $181.98. The company has a market cap of $1.99 trillion, a P/E ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Equities analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMZN. Morgan Stanley dropped their price target on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. Wolfe Research started coverage on Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective for the company. Evercore ISI raised their target price on Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Maxim Group upped their price target on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $222.84.

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.