Miller Investment Management LP Has $9.12 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Miller Investment Management LP grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 137.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,966 shares of the e-commerce giant’s stock after purchasing an additional 28,351 shares during the quarter. Amazon.com comprises about 1.0% of Miller Investment Management LP’s investment portfolio, making the stock its 23rd largest position. Miller Investment Management LP’s holdings in Amazon.com were worth $9,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Diversified LLC raised its position in shares of Amazon.com by 38.3% during the second quarter. Diversified LLC now owns 10,471 shares of the e-commerce giant’s stock worth $2,024,000 after acquiring an additional 2,899 shares during the last quarter. Secure Asset Management LLC raised its position in shares of Amazon.com by 16.3% during the second quarter. Secure Asset Management LLC now owns 45,957 shares of the e-commerce giant’s stock worth $8,881,000 after acquiring an additional 6,444 shares during the last quarter. Spinnaker Investment Group LLC raised its position in shares of Amazon.com by 34.3% during the second quarter. Spinnaker Investment Group LLC now owns 6,608 shares of the e-commerce giant’s stock worth $1,277,000 after acquiring an additional 1,687 shares during the last quarter. Mcrae Capital Management Inc. raised its position in shares of Amazon.com by 21.1% during the second quarter. Mcrae Capital Management Inc. now owns 2,435 shares of the e-commerce giant’s stock worth $471,000 after acquiring an additional 425 shares during the last quarter. Finally, American Financial Advisors LLC raised its position in shares of Amazon.com by 1.4% during the second quarter. American Financial Advisors LLC now owns 28,744 shares of the e-commerce giant’s stock worth $5,555,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMZN shares. The Goldman Sachs Group boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a report on Tuesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Truist Financial upped their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank upped their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $218.94 on Friday. The stock has a 50 day moving average price of $216.20 and a 200 day moving average price of $195.41. Amazon.com, Inc. has a 52 week low of $149.91 and a 52 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 has a market capitalization of $2.30 trillion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 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.