Amazon.com, Inc. (NASDAQ:AMZN) Holdings Boosted by New World Advisors LLC

New World Advisors LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 18.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,016 shares of the e-commerce giant’s stock after buying an additional 2,819 shares during the period. Amazon.com makes up 0.8% of New World Advisors LLC’s holdings, making the stock its 6th biggest position. New World Advisors LLC’s holdings in Amazon.com were worth $3,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares during the period. FMR LLC raised its holdings in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after buying an additional 1,725,664 shares during the period. Geode Capital Management LLC raised its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after buying an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after buying an additional 4,087,933 shares during the period. Finally, Norges Bank purchased a new position in Amazon.com in the fourth quarter valued at approximately $27,266,582,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $223.88 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a 50 day moving average price of $212.84 and a 200 day moving average price of $208.62. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 36.46, a PEG ratio of 1.67 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the transaction, the chief executive officer owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 733,195 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the transaction, the insider directly owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. This trade represents a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,335,232 shares of company stock valued at $3,210,622,570 over the last three months. 9.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. DA Davidson decreased their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler set a $250.00 price objective on shares of Amazon.com and gave the stock an “overweight” rating in a report on Friday, July 11th. Cantor Fitzgerald raised their target price on Amazon.com from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $250.35.

Amazon.com Company 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.