Amazon.com, Inc. (NASDAQ:AMZN) is Cullen Investment Group LTD.’s 10th Largest Position

Cullen Investment Group LTD. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,700 shares of the e-commerce giant’s stock after acquiring an additional 1,731 shares during the period. Amazon.com makes up 2.0% of Cullen Investment Group LTD.’s portfolio, making the stock its 10th biggest position. Cullen Investment Group LTD.’s holdings in Amazon.com were worth $13,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Icon Wealth Advisors LLC increased its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp boosted its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety days. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.2 %

AMZN stock opened at $234.85 on Friday. The firm has a market cap of $2.47 trillion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The firm has a fifty day moving average price of $219.63 and a 200 day moving average price of $197.22. 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, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $236.40.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Sell-side analysts anticipate that Amazon.com, Inc. will post 5.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on AMZN shares. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $270.00 price target on shares of Amazon.com in a report on Wednesday. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Bank of America upped their price objective on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.02.

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.