Sterneck Capital Management LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,042 shares of the e-commerce giant’s stock, valued at approximately $3,281,000. Amazon.com comprises about 2.8% of Sterneck Capital Management LLC’s holdings, making the stock its 10th biggest position.
Other large investors also recently made changes to their positions in the company. Gantzert Investment Co. LLC ADV acquired a new stake in Amazon.com during the 2nd quarter valued at $28,000. Lountzis Asset Management LLC acquired a new stake in Amazon.com during the 2nd quarter valued at $28,000. James Investment Research Inc. acquired a new stake in Amazon.com during the 2nd quarter valued at $55,000. Spence Asset Management lifted its stake in shares of Amazon.com by 57.1% during the 2nd quarter. Spence Asset Management now owns 22 shares of the e-commerce giant’s stock worth $61,000 after purchasing an additional 8 shares during the period. Finally, Legacy Wealth Planning LLC lifted its stake in shares of Amazon.com by 126.1% during the 1st quarter. Legacy Wealth Planning LLC now owns 694 shares of the e-commerce giant’s stock worth $69,000 after purchasing an additional 387 shares during the period. Hedge funds and other institutional investors own 57.32% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered Amazon.com from a “hold” rating to a “sell” rating and set a $3,359.00 price target on the stock. in a research note on Tuesday, October 6th. UBS Group increased their price target on Amazon.com from $3,000.00 to $4,000.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Oppenheimer increased their price target on Amazon.com from $2,700.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday, October 7th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Amazon.com in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and forty-nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $3,438.90.
Shares of Amazon.com stock opened at $3,272.71 on Friday. The company has a market capitalization of $1,639.27 billion, a PE ratio of 125.83, a P/E/G ratio of 3.59 and a beta of 1.35. Amazon.com, Inc. has a 1-year low of $1,626.03 and a 1-year high of $3,552.25. The business has a 50-day moving average of $3,207.58 and a 200-day moving average of $2,802.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.18 and a quick ratio of 0.97.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $8.56. The business had revenue of $88.91 billion during the quarter, compared to the consensus estimate of $81.56 billion. Amazon.com had a return on equity of 20.47% and a net margin of 4.10%. On average, equities analysts expect that Amazon.com, Inc. will post 31.61 earnings per share for the current fiscal year.
In related news, CEO Jeffrey A. Wilke sold 750 shares of Amazon.com stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $3,304.28, for a total value of $2,478,210.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $33,042,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Indra K. Nooyi bought 8 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was bought at an average price of $3,208.60 per share, with a total value of $25,668.80. Following the completion of the purchase, the director now owns 826 shares of the company’s stock, valued at $2,650,303.60. The disclosure for this purchase can be found here. Insiders sold 102,815 shares of company stock valued at $324,095,003 over the last quarter. Insiders own 16.10% of the company’s stock.
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.
Featured Story: What type of investment options does a Roth IRA provide?
Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.