Fort Pitt Capital Group LLC Boosts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fort Pitt Capital Group LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 472,304 shares of the e-commerce giant’s stock after purchasing an additional 123,823 shares during the quarter. Amazon.com makes up 2.5% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 20th biggest holding. Fort Pitt Capital Group LLC’s holdings in Amazon.com were worth $88,004,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PayPay Securities Corp lifted its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the third quarter worth about $45,000. Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,030,183 shares of company stock worth $1,252,883,795. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Telsey Advisory Group increased their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Moffett Nathanson increased their target price on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Redburn Atlantic increased their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Oppenheimer increased their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.42.

Amazon.com Stock Down 0.5 %

AMZN opened at $225.04 on Wednesday. Amazon.com, Inc. has a 12 month low of $143.64 and a 12 month high of $230.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market cap of $2.37 trillion, a P/E ratio of 48.19, a P/E/G ratio of 1.52 and a beta of 1.16. The stock’s 50 day moving average price is $198.19 and its 200 day moving average price is $188.47.

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

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.