Amazon.com, Inc. (NASDAQ:AMZN) is Argus Investors Counsel Inc.’s 9th Largest Position

Argus Investors Counsel Inc. lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,020 shares of the e-commerce giant’s stock after buying an additional 1,274 shares during the period. Amazon.com comprises 2.3% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 9th largest position. Argus Investors Counsel Inc.’s holdings in Amazon.com were worth $3,544,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMZN. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. Capital Research Global Investors raised its position in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Legal & General Group Plc lifted its stake in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp boosted its position in 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 valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Finally, Capital International Investors grew its stake in shares of Amazon.com by 7.4% during the first quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock valued at $7,642,732,000 after buying an additional 2,932,192 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMZN. UBS Group boosted their target price on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a research report on Wednesday. Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Finally, JMP Securities raised their price target on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.77.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $197.12 on Friday. The company has a market capitalization of $2.07 trillion, a PE ratio of 42.21, a PEG ratio of 1.33 and a beta of 1.14. The business has a fifty day moving average price of $193.00 and a 200-day moving average price of $186.31. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) 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 business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. 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.