Savvy Advisors Inc. Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Savvy Advisors Inc. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 213.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,260 shares of the e-commerce giant’s stock after acquiring an additional 15,838 shares during the period. Amazon.com accounts for about 1.5% of Savvy Advisors Inc.’s investment portfolio, making the stock its 14th largest position. Savvy Advisors Inc.’s holdings in Amazon.com were worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the period. Capital Research Global Investors raised its holdings in Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after buying an additional 6,810,145 shares during the period. Legal & General Group Plc raised its holdings in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the period. Bank of New York Mellon Corp raised its holdings in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Finally, Jennison Associates LLC raised its holdings in Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after buying an additional 295,132 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price target on shares of Amazon.com in a report on Thursday, September 19th. The Goldman Sachs Group cut their price target on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Bank of America lowered their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Roth Mkm increased their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $187.83 on Friday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a market cap of $1.95 trillion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a fifty day moving average of $183.50 and a 200-day moving average of $183.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities analysts anticipate that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

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.