Amazon.com, Inc. (NASDAQ:AMZN) is Garner Asset Management Corp’s 7th Largest Position

Garner Asset Management Corp reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,135 shares of the e-commerce giant’s stock after selling 116 shares during the quarter. Amazon.com comprises approximately 2.2% of Garner Asset Management Corp’s investment portfolio, making the stock its 7th biggest holding. Garner Asset Management Corp’s holdings in Amazon.com were worth $4,870,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMZN. Legal & General Group Plc increased its position in Amazon.com by 1.5% during the 2nd 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 buying an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 289,532 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Amazon.com by 3.4% during the second 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 in 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 purchasing an additional 38,949,065 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 1.8 %

Shares of AMZN stock opened at $224.19 on Friday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s fifty day moving average is $213.07 and its two-hundred day moving average is $194.05. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. 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 ninety days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Moffett Nathanson raised their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna boosted their price target on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.44.

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.