Lowe Brockenbrough & Co. Inc. Has $26.06 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Lowe Brockenbrough & Co. Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,865 shares of the e-commerce giant’s stock after selling 18,988 shares during the period. Amazon.com makes up 1.7% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 9th biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Amazon.com were worth $26,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AMZN. Legal & General Group Plc grew its holdings in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Amazon.com by 0.4% during the second 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 purchasing an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Amazon.com by 3.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after buying an additional 1,329,150 shares during the period. International Assets Investment Management LLC increased its position in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Amazon.com by 1.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after buying an additional 464,938 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $227.03 on Monday. The business has a fifty day moving average price of $197.39 and a two-hundred day moving average price of $188.15. The stock has a market capitalization of $2.39 trillion, a PE ratio of 48.61, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a fifty-two week low of $143.64 and a fifty-two week high of $227.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,030,183 shares of company stock valued at $1,252,883,795 over the last three months. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent analyst reports. JMP Securities increased their price target on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Susquehanna increased their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Pivotal Research initiated coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Telsey Advisory Group increased their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein boosted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.20.

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.