Fort Pitt Capital Group LLC Acquires 327,066 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fort Pitt Capital Group LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1,527.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 348,481 shares of the e-commerce giant’s stock after purchasing an additional 327,066 shares during the period. Amazon.com makes up 2.0% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 24th largest position. Fort Pitt Capital Group LLC’s holdings in Amazon.com were worth $67,344,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the fourth quarter worth about $30,000. Christopher J. Hasenberg Inc lifted its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the period. Clarity Asset Management Inc. purchased a new stake in Amazon.com in the 4th quarter worth approximately $46,000. Steph & Co. purchased a new position in shares of Amazon.com during the first quarter valued at approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of Amazon.com during the first quarter valued at approximately $69,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Up 0.9 %

Amazon.com stock opened at $191.60 on Friday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The stock has a fifty day moving average of $178.54 and a 200 day moving average of $181.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a market cap of $1.99 trillion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14.

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

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 4,710 shares of Amazon.com stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the completion of the sale, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of Amazon.com stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

AMZN has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America reduced their price target on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of Amazon.com in a report on Thursday, September 5th. They issued an “overweight” rating and a $230.00 price objective for the company. Jefferies Financial Group reduced their target price on Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Roth Mkm raised their target price on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Buy” and a consensus price target of $222.84.

Amazon.com 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.