Sterneck Capital Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,042 shares of the e-commerce giant’s stock, valued at approximately $3,281,000. Amazon.com makes up about 2.8% of Sterneck Capital Management LLC’s portfolio, making the stock its 10th largest holding.
Other hedge funds also recently modified their holdings of the company. Gantzert Investment Co. LLC ADV bought a new stake in shares of Amazon.com during the second quarter worth $28,000. Lountzis Asset Management LLC bought a new stake in shares of Amazon.com during the second quarter worth $28,000. James Investment Research Inc. bought a new stake in shares of Amazon.com during the second quarter worth $55,000. Spence Asset Management grew its position in Amazon.com by 57.1% in the second quarter. Spence Asset Management now owns 22 shares of the e-commerce giant’s stock valued at $61,000 after purchasing an additional 8 shares in the last quarter. Finally, Legacy Wealth Planning LLC grew its position in Amazon.com by 126.1% in the first quarter. Legacy Wealth Planning LLC now owns 694 shares of the e-commerce giant’s stock valued at $69,000 after purchasing an additional 387 shares in the last quarter. 57.32% of the stock is owned by institutional investors.
Shares of Amazon.com stock opened at $3,272.71 on Friday. Amazon.com, Inc. has a twelve month low of $1,626.03 and a twelve month high of $3,552.25. The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $3,207.58 and a two-hundred day simple moving average of $2,802.40. The stock has a market capitalization of $1,639.27 billion, a price-to-earnings ratio of 125.83, a price-to-earnings-growth ratio of 3.59 and a beta of 1.35.
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 20.47%. The firm had revenue of $88.91 billion for the quarter, compared to analyst estimates of $81.56 billion. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 31.61 earnings per share for the current fiscal year.
In other Amazon.com news, CEO Jeffrey A. Wilke sold 750 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $3,304.28, for a total value of $2,478,210.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $33,042,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey P. Bezos sold 97,654 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $3,150.09, for a total transaction of $307,618,888.86. Following the completion of the transaction, the chief executive officer now directly owns 54,583,923 shares in the company, valued at $171,944,270,003.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,815 shares of company stock worth $324,095,003. Insiders own 16.10% of the company’s stock.
A number of research firms recently weighed in on AMZN. Sanford C. Bernstein raised shares of Amazon.com from a “market perform” rating to an “outperform” rating and set a $3,400.00 target price for the company in a research report on Tuesday, September 22nd. Stifel Nicolaus raised their target price on shares of Amazon.com from $3,300.00 to $3,500.00 and gave the company a “buy” rating in a research report on Friday, July 31st. DA Davidson raised their target price on shares of Amazon.com from $2,625.00 to $3,800.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Monness Crespi & Hardt raised their target price on shares of Amazon.com from $3,500.00 to $3,750.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, DZ Bank reaffirmed a “buy” rating on shares of Amazon.com in a research report on Wednesday, July 8th. One research 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 stock. Amazon.com currently has a consensus rating of “Buy” and a consensus price target of $3,438.90.
Amazon.com Company Profile
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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