Bank of New York Mellon Corp Purchases 289,532 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Bank of New York Mellon Corp lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,745,972 shares of the e-commerce giant’s stock after acquiring an additional 289,532 shares during the period. Amazon.com makes up about 2.5% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 4th largest holding. Bank of New York Mellon Corp’s holdings in Amazon.com were worth $13,091,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. grew its position in Amazon.com by 291.8% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock valued at $4,406,000 after purchasing an additional 21,595 shares in the last quarter. Mather Group LLC. grew its position in shares of Amazon.com by 5.5% in the 4th quarter. Mather Group LLC. now owns 40,318 shares of the e-commerce giant’s stock valued at $6,126,000 after acquiring an additional 2,106 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Amazon.com by 4.1% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 34,760 shares of the e-commerce giant’s stock valued at $5,281,000 after acquiring an additional 1,365 shares during the period. McAdam LLC grew its position in shares of Amazon.com by 0.4% in the 4th quarter. McAdam LLC now owns 21,719 shares of the e-commerce giant’s stock valued at $3,300,000 after acquiring an additional 91 shares during the period. Finally, Choreo LLC grew its position in shares of Amazon.com by 33.8% in the 4th quarter. Choreo LLC now owns 125,620 shares of the e-commerce giant’s stock valued at $19,087,000 after acquiring an additional 31,750 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMZN. Tigress Financial raised their target price on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley dropped their target price on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. TD Cowen boosted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Amazon.com in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $222.49.

Amazon.com Stock Up 1.1 %

Amazon.com stock opened at $186.88 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $178.97 and its 200 day moving average is $181.80. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a market capitalization of $1.94 trillion, a PE ratio of 52.35, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. As a group, sell-side analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. Insiders own 10.80% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.