Amazon.com, Inc. (NASDAQ:AMZN) is Sterneck Capital Management LLC’s 6th Largest Position

Sterneck Capital Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 39.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,172 shares of the e-commerce giant’s stock after acquiring an additional 11,916 shares during the quarter. Amazon.com accounts for about 4.6% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Sterneck Capital Management LLC’s holdings in Amazon.com were worth $8,150,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the 4th quarter worth about $30,000. Clarity Asset Management Inc. bought a new stake in Amazon.com in the fourth quarter valued at about $46,000. Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Steph & Co. bought a new position in Amazon.com during the 1st quarter worth approximately $65,000. Finally, Advantage Trust Co acquired a new position in shares of Amazon.com in the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group dropped their price target on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. Cantor Fitzgerald started coverage on shares of Amazon.com in a research report on Thursday, September 5th. They set an “overweight” rating and a $230.00 price objective for the company. Jefferies Financial Group cut their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird upped their target price on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. One analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $222.84.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $191.60 on Friday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $178.54 and a two-hundred day moving average of $181.98. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.67, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal 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.