Amazon.com, Inc. (NASDAQ:AMZN) is Covington Investment Advisors Inc.’s 7th Largest Position

Covington Investment Advisors Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,908 shares of the e-commerce giant’s stock after buying an additional 582 shares during the period. Amazon.com accounts for 2.8% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Covington Investment Advisors Inc.’s holdings in Amazon.com were worth $18,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Icon Wealth Advisors LLC increased its stake in 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 valued at $28,000 after buying an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its stake in Amazon.com by 64.6% in the 2nd 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 purchased a new stake in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the 3rd quarter valued at about $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com during the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research reports. TD Cowen increased their target price on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial increased their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $243.44.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.19 on Monday. Amazon.com, Inc. has a 52-week low of $144.05 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 company has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a fifty day moving average of $213.07 and a 200-day moving average of $194.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % 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 over the last three months. 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.