Asset Management Group Inc. Has $7.75 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Asset Management Group Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,572 shares of the e-commerce giant’s stock after acquiring an additional 924 shares during the quarter. Amazon.com comprises 1.4% of Asset Management Group Inc.’s portfolio, making the stock its 24th largest position. Asset Management Group Inc.’s holdings in Amazon.com were worth $7,746,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of 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 worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 buying an additional 289,532 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after buying an additional 1,980,663 shares during the period. Ameriprise Financial Inc. increased its stake 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 acquiring an additional 1,329,150 shares during the last quarter. Finally, International Assets Investment Management LLC raised 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 acquiring an additional 38,949,065 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Sanford C. Bernstein boosted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Roth Mkm boosted their target price on 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 reaffirmed an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 0.4 %

AMZN stock opened at $220.22 on Friday. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The company has a market capitalization of $2.32 trillion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company’s 50-day simple moving average is $211.67 and its 200 day simple moving average is $193.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company 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 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.