Amazon.com, Inc. $AMZN Stake Boosted by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 46.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,813,715 shares of the e-commerce giant’s stock after purchasing an additional 1,833,657 shares during the period. Amazon.com makes up about 2.2% of Fifth Third Bancorp’s portfolio, making the stock its 7th biggest holding. Fifth Third Bancorp owned about 0.05% of Amazon.com worth $1,210,822,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Red Crane Wealth Management LLC boosted its stake in Amazon.com by 2.3% in the 1st quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock worth $346,000 after purchasing an additional 38 shares in the last quarter. Robinson Smith Wealth Advisors LLC lifted its position in Amazon.com by 0.7% during the first quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant’s stock valued at $1,147,000 after purchasing an additional 40 shares during the period. Lifelong Wealth Advisors Inc. lifted its holdings in shares of Amazon.com by 2.4% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock valued at $402,000 after buying an additional 41 shares during the period. Financial Connections Group Inc. boosted its stake in shares of Amazon.com by 2.6% in the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock worth $376,000 after buying an additional 42 shares during the last quarter. Finally, Marquette Asset Management LLC raised its position in Amazon.com by 5.1% during the fourth quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, VP Shelley Reynolds sold 2,363 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president directly owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the sale, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at approximately $116,175,038.79. This trade represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 140,425 shares of company stock worth $37,715,464. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Down 4.6%

AMZN stock opened at $233.66 on Friday. The firm has a market cap of $2.51 trillion, a PE ratio of 27.95, a PEG ratio of 1.82 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The firm’s 50 day moving average price is $248.90 and its 200-day moving average price is $236.35.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. On average, equities research analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.

Analyst Ratings Changes

AMZN has been the subject of several research analyst reports. Weiss Ratings raised Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Guggenheim reissued a “buy” rating and issued a $320.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Truist Financial upped their price objective on shares of Amazon.com from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Oppenheimer increased their price objective on shares of Amazon.com from $275.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Robert W. Baird boosted their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $312.91.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.