Davis R M Inc. Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

In the latest quarterly update, Davis R M Inc. has increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.7%. This growth was revealed in the company’s most recent 13F filing with the SEC. Following the purchase of an additional 15,879 shares, the fund now owns a total of 599,989 shares in the well-known e-commerce company. As part of Davis R M Inc.'s investment portfolio, Amazon.com represents 2.2%, making it the 10th largest holding with a worth of approximately $111,796,000 at the close of the last reporting period.

Other hedge funds have also recently modified their positions regarding Amazon.com. Semus Wealth Partners LLC raised its stake by 0.3% during the third quarter, owning a total of 17,920 shares valued at $3,339,000 following the acquisition of 49 additional shares. Meridian Investment Counsel Inc. increased its holdings by 1.8% in the second quarter, bringing its total to 3,076 shares worth $594,000 after acquiring 55 more shares.

O’Connor Financial Group LLC, meanwhile, enhanced its position by 2.2% in the third quarter, owning 2,536 shares valued at $473,000 after purchasing 55 additional shares. Cherrydale Wealth Management LLC grew its holdings by 0.7% during the same quarter, now owning 7,492 shares worth $1,396,000 after an additional 55 shares were bought. Finally, Cedar Point Capital Partners LLC raised its stake by 4.4% during the third quarter, owning 1,324 shares now worth $247,000 after purchasing 56 more shares. Overall, institutional investors and hedge funds hold 72.20% of Amazon.com’s stock.

Amazon.com Stock Performance

The NASDAQ-listed shares of Amazon.com, Inc. opened at $224.19 on a recent trading day. The company boasts a market capitalization of $2.36 trillion, with a PE ratio of 48.01 and a P/E/G ratio of 1.54. Amazon has a beta of 1.16, with its 50-day moving average at $213.07 and its 200-day moving average at $194.05. The stock has a quick ratio of 0.87, a current ratio of 1.09, and a debt-to-equity ratio of 0.21. Furthermore, Amazon.com features a 52-week low of $144.05 and a 52-week high of $233.00.

In its most recent earnings announcement, Amazon.com reported its quarterly results on October 31. The company achieved earnings per share (EPS) of $1.43, surpassing analysts’ expectations of $1.14 by $0.29. They recorded a return on equity of 22.41% and a net margin of 8.04%. Amazon's revenue for the quarter stood at $158.88 billion, exceeding analyst forecasts of $157.28 billion. Comparatively, during the same period last year, the company had an EPS of $0.85, marking an annual revenue increase of 11.0%. Analysts are predicting an average EPS of 5.29 for the current year.

Analysts' Price Targets and Ratings

A number of analysts have updated their price targets for Amazon.com. On December 20, Tigress Financial escalated their price objective from $245.00 to $290.00, maintaining a “buy” rating for the stock. Moffett Nathanson also raised its target from $235.00 to $248.00 with a “buy” rating on November 26. Furthermore, DA Davidson reaffirmed a “buy” rating with a price target of $235.00 in an earlier report dated October 10. Bank of America increased its target from $210.00 to $230.00 with a “buy” rating on November 1. Jefferies Financial Group similarly lifted their target price from $235.00 to $275.00, also keeping a “buy” rating. Currently, two investment analysts are holding a position for the stock, while 41 recommend buying it, and one expert has issued a strong buy rating. According to data from MarketBeat.com, Amazon is noted to have an average rating of "Moderate Buy" and a median price target of $243.44.

Recent Insider Transactions

In related news, the company’s director, Jonathan Rubinstein, sold 4,351 shares on December 9 at an average price of $229.85, totaling $1,000,077.35 from the transaction. As a result of this sale, he now owns 88,203 shares valued at $20,273,459.55, reflecting a 4.70% decrease in his ownership. Further, CEO Matthew S. Garman disposed of 15,260 shares on November 21, garnering around $3,054,899.40 from the sale at an average price of $200.19. Post-transaction, he owns 349,261 shares assessed at about $69,918,559.59, indicating a 4.19% decline in his ownership stake. Over the past three months, insiders have sold a total of 6,032,344 shares valued at $1,253,456,822, with currently 10.80% of the stock owned by insiders.

Amazon.com Overview

Amazon.com, Inc. operates as a retailer of consumer products, advertising services, and subscription offerings through both online and physical platforms both in North America and internationally. The company is structured into three main segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells electronic devices like Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero, and is also engaged in developing and producing media content.

Amazon, Investment, Stock