Trust Investment Advisors Increases Amazon Stock Holdings by 96.1%

Trust Investment Advisors has significantly increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 96.1% during the second quarter of this year. This information was disclosed in their latest filing with the Securities and Exchange Commission (SEC). As a result of this investment, Trust Investment Advisors now owns a total of 2,745 shares in the e-commerce giant, having added an additional 1,345 shares during the quarter. Based on the most recent filing, their investments in Amazon are valued at approximately $530,000.

Other institutional investors have also adjusted their positions in Amazon.com recently. PayPay Securities Corp raised its holdings by 64.6% during the same quarter, bringing its total to 163 shares valued at around $32,000 after acquiring 64 more shares. Similarly, Christopher J. Hasenberg Inc saw a massive increase of 650% in their Amazon holdings, now owning 300 shares worth $58,000 after adding 260 shares. Additionally, Steph & Co. and Koesten Hirschmann & Crabtree Inc. invested in new positions in Amazon during the first quarter, valued at approximately $65,000 and $69,000, respectively. Innealta Capital LLC also purchased a new stake worth about $77,000 during the second quarter. Evidently, institutional investors collectively hold 72.20% of Amazon's shares.

Market Analysts Adjust Price Targets

In terms of market predictions, several analysts have recently published their perspectives on Amazon.com. Stifel Nicolaus revised their target price on Amazon shares from $228.00 to $224.00 while maintaining a “buy” rating. Meanwhile, Wells Fargo & Company downgraded its rating from “overweight” to “equal weight” and adjusted their target price from $225.00 to $183.00. Furthermore, Bank of America decreased its price target from $220.00 to $210.00 but still issued a “buy” rating. Truist Financial raised their target significantly from $230.00 to $265.00 and assigned a “buy” rating on the stock. On the other hand, Jefferies Financial Group lowered their price target from $235.00 to $225.00 while keeping the “buy” rating. Overall, only two analysts have rated the stock as a hold, while forty-two have a buy rating and one has given a strong buy rating. As per MarketBeat, the average rating for Amazon stock is a “Moderate Buy” with an average target price of $236.78.

Amazon's Stock Overview

As of the latest trading session, shares of Amazon.com, Inc. (NASDAQ:AMZN) opened at $188.99. The stock has recorded a 52-week low of $118.35 and a high of $201.20. With a market capitalization of $1.97 trillion, the company has a P/E ratio of 52.94, a PEG ratio of 1.38, and a beta of 1.14. In terms of moving averages, the 50-day simple moving average stands at $181.98, while the 200-day simple moving average is $183.42. The firm also has a quick ratio of 0.88, a current ratio of 1.10, and a low debt-to-equity ratio of 0.23.

Amazon disclosed its quarterly earnings data on August 1st. The results showed that the company earned $1.23 per share, surpassing analysts' consensus estimate of $1.05 by $0.18. The net profit margin stood at 7.35%, with a return on equity of 21.39%. In the last quarter, Amazon generated revenues of $147.98 billion, compared to an expected $148.63 billion by the analysts. Looking ahead, analysts anticipate that Amazon.com, Inc. will report earnings per share of 4.85 for the current fiscal year.

Insider Trading Activity

In a related note, there have been several insider transactions involving Amazon.com shares. For instance, David Zapolsky, a senior vice president, sold 2,190 shares on September 24th at an average price of $195.00, totaling approximately $427,050. After this transaction, he owns around 62,420 shares, valued at about $12,171,900. This transaction did not affect his position percentage-wise. Similarly, Vice President Shelley Reynolds sold 3,791 shares on August 21st at an average price of $181.04, accumulating a total of approximately $686,323. Following this sale, she holds 121,461 shares worth roughly $21,989,299. In total, insiders have sold 54,355 shares valued at nearly $9.88 million within the last ninety days. It is worth mentioning that company insiders own approximately 10.80% of Amazon’s stock.

Amazon.com Overview

Amazon.com, Inc. operates as a retailer selling consumer products, advertisements, and subscription services through both online and physical stores within North America and globally. The company categorizes its operations into three segments: North America, International, and Amazon Web Services (AWS). Amazon is also involved in the manufacture and sale of electronic devices like the Kindle, Fire tablets, Fire TVs, Echo devices, Ring, Blink, and eero, as well as the development and production of media content.

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