Amazon.com, Inc. (NASDAQ:AMZN) is The Manufacturers Life Insurance Company’s 3rd Largest Position

The Manufacturers Life Insurance Company boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,043,336 shares of the e-commerce giant’s stock after acquiring an additional 533,975 shares during the quarter. Amazon.com accounts for approximately 3.1% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 3rd biggest position. The Manufacturers Life Insurance Company owned 0.18% of Amazon.com worth $3,548,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings 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 acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Amazon.com by 3.6% in the 3rd 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 buying an additional 1,980,663 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Amazon.com by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock valued at $8,320,300,000 after buying an additional 873,174 shares during the period. Finally, Ameriprise Financial Inc. boosted 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 buying an additional 1,329,150 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 1.8 %

NASDAQ:AMZN opened at $224.19 on Monday. The firm has a market cap of $2.36 trillion, a P/E ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $213.07 and its 200-day simple moving average is $194.21. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $157.28 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMZN shares. Jefferies Financial Group lifted their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Tigress Financial lifted their price objective on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Robert W. Baird lifted their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Maxim Group lifted their price objective on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.44.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,502 shares of the company’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 transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. Company insiders own 10.80% of the company’s stock.

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.