Associated Banc Corp Purchases 4,256 Shares of Amazon.com, Inc. $AMZN

Associated Banc Corp grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 585,583 shares of the e-commerce giant’s stock after purchasing an additional 4,256 shares during the quarter. Amazon.com accounts for about 3.2% of Associated Banc Corp’s holdings, making the stock its 6th biggest holding. Associated Banc Corp’s holdings in Amazon.com were worth $121,959,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MilWealth Group LLC increased its holdings in Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after purchasing an additional 79 shares during the period. Lifetime Wealth Management P.C. purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $45,000. Elkhorn Partners Limited Partnership raised its holdings in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC lifted its stake in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its stake in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after purchasing an additional 107 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Amazon.com Stock Performance

Shares of AMZN opened at $232.11 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The company has a 50-day simple moving average of $248.26 and a 200-day simple moving average of $236.32. The company has a market capitalization of $2.50 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.75 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMZN. Guggenheim reaffirmed 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. Barclays reissued an “overweight” rating on shares of Amazon.com in a research report on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $293.00 price objective on shares of Amazon.com in a research note on Thursday. Arete Research raised their target price on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a research report on Thursday, June 18th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.91.

Insider Activity

In other news, Director Jonathan Rubinstein sold 3,706 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the transaction, the director directly owned 74,948 shares of the company’s stock, valued at $20,462,302.96. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the sale, the chief executive officer owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% 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. Insiders sold a total of 140,425 shares of company stock valued at $37,715,464 in the last 90 days. Insiders own 8.90% of the company’s stock.

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.