Jackson Wealth Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 60.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,482 shares of the e-commerce giant’s stock after acquiring an additional 2,815 shares during the period. Amazon.com accounts for approximately 3.7% of Jackson Wealth Management LLC’s holdings, making the stock its 7th biggest position. Jackson Wealth Management LLC’s holdings in Amazon.com were worth $20,641,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Taylor Wealth Management Partners purchased a new position in shares of Amazon.com during the second quarter valued at $4,726,000. Buffington Mohr McNeal boosted its stake in shares of Amazon.com by 4.6% during the 2nd quarter. Buffington Mohr McNeal now owns 1,217 shares of the e-commerce giant’s stock valued at $3,357,000 after buying an additional 54 shares during the period. Jacobi Capital Management LLC increased its stake in shares of Amazon.com by 35.5% in the second quarter. Jacobi Capital Management LLC now owns 763 shares of the e-commerce giant’s stock worth $2,105,000 after acquiring an additional 200 shares during the last quarter. Peoples Bank OH raised its stake in shares of Amazon.com by 2.2% during the 2nd quarter. Peoples Bank OH now owns 505 shares of the e-commerce giant’s stock worth $1,393,000 after purchasing an additional 11 shares in the last quarter. Finally, Parisi Gray Wealth Management raised its stake in shares of Amazon.com by 3.4% during the 2nd quarter. Parisi Gray Wealth Management now owns 956 shares of the e-commerce giant’s stock worth $2,637,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.
Several research analysts have recently commented on the stock. Citigroup increased their price target on shares of Amazon.com from $2,700.00 to $3,550.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Deutsche Bank raised their target price on Amazon.com from $3,333.00 to $4,000.00 and gave the company a “buy” rating in a report on Friday. Barclays raised their price target on Amazon.com from $3,430.00 to $3,530.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group raised their price target on Amazon.com from $3,000.00 to $4,000.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cowen raised their price target on Amazon.com from $2,750.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $3,240.51.
Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating the consensus estimate of $1.74 by $8.56. Amazon.com had a net margin of 4.10% and a return on equity of 21.51%. The firm had revenue of $88.91 billion for the quarter, compared to analyst estimates of $81.56 billion. Equities analysts predict that Amazon.com, Inc. will post 20.12 EPS for the current year.
In other news, Director Indra K. Nooyi bought 27 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were purchased at an average cost of $2,806.80 per share, with a total value of $75,783.60. Following the acquisition, the director now directly owns 707 shares in the company, valued at $1,984,407.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 6,945 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the completion of the transaction, the chief executive officer now directly owns 93,105 shares in the company, valued at $210,091,432.50. The disclosure for this sale can be found here. 16.10% of the stock is owned by company insiders.
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) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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