Covington Capital Management Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Covington Capital Management increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,972.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 414,270 shares of the e-commerce giant’s stock after acquiring an additional 394,285 shares during the period. Amazon.com comprises about 1.8% of Covington Capital Management’s portfolio, making the stock its 6th biggest position. Covington Capital Management’s holdings in Amazon.com were worth $44,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Capital Management LP grew its position in shares of Amazon.com by 1,801.9% in the 2nd quarter. New Capital Management LP now owns 6,980 shares of the e-commerce giant’s stock valued at $812,000 after buying an additional 6,613 shares during the last quarter. City Holding Co. grew its position in shares of Amazon.com by 1,949.4% in the 2nd quarter. City Holding Co. now owns 90,790 shares of the e-commerce giant’s stock valued at $9,643,000 after buying an additional 86,360 shares during the last quarter. Koss Olinger Consulting LLC grew its position in shares of Amazon.com by 1,184.6% in the 2nd quarter. Koss Olinger Consulting LLC now owns 9,108 shares of the e-commerce giant’s stock valued at $967,000 after buying an additional 8,399 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $2,050,000. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $2,286,000. Institutional investors own 57.15% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $124.66 on Tuesday. The stock has a fifty day simple moving average of $129.52 and a two-hundred day simple moving average of $130.59. Amazon.com, Inc. has a 1-year low of $101.26 and a 1-year high of $188.11. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 111.75, a price-to-earnings-growth ratio of 5.51 and a beta of 1.33. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The firm had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same period last year, the company posted $0.76 earnings per share. Amazon.com’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 0.99 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total value of $66,263.60. Following the completion of the transaction, the chief executive officer now directly owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Shelley Reynolds sold 3,480 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $134.23, for a total value of $467,120.40. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $16,078,069.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total value of $66,263.60. Following the completion of the transaction, the chief executive officer now directly owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The disclosure for this sale can be found here. Insiders sold 70,628 shares of company stock valued at $9,802,599 over the last three months. Company insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AMZN. Citigroup upped their price target on Amazon.com to $185.00 in a research report on Tuesday, August 9th. StockNews.com raised Amazon.com from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Oppenheimer dropped their price objective on Amazon.com from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, July 25th. JPMorgan Chase & Co. dropped their price objective on Amazon.com from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 29th. Finally, JMP Securities boosted their price objective on Amazon.com from $172.50 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average price target of $176.61.

About Amazon.com

(Get Rating)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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