Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 35.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 472,304 shares of the e-commerce giant’s stock after acquiring an additional 123,823 shares during the quarter. Amazon.com makes up 2.5% of Fort Pitt Capital Group LLC’s holdings, making the stock its 20th largest holding. Fort Pitt Capital Group LLC’s holdings in Amazon.com were worth $88,004,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Latitude Advisors LLC grew its holdings in shares of Amazon.com by 5.1% in the 3rd quarter. Latitude Advisors LLC now owns 17,117 shares of the e-commerce giant’s stock worth $3,189,000 after acquiring an additional 829 shares during the last quarter. Empire Life Investments Inc. boosted its position in shares of Amazon.com by 3.6% in the third quarter. Empire Life Investments Inc. now owns 308,826 shares of the e-commerce giant’s stock worth $57,544,000 after buying an additional 10,690 shares during the period. Baxter Bros Inc. boosted its position in shares of Amazon.com by 4.0% in the third quarter. Baxter Bros Inc. now owns 30,031 shares of the e-commerce giant’s stock worth $5,596,000 after buying an additional 1,149 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Amazon.com by 1.9% in the third quarter. Janney Montgomery Scott LLC now owns 2,556,515 shares of the e-commerce giant’s stock worth $476,356,000 after buying an additional 46,811 shares during the period. Finally, Allen Wealth Management LLC boosted its position in shares of Amazon.com by 6.4% in the third quarter. Allen Wealth Management LLC now owns 2,170 shares of the e-commerce giant’s stock worth $404,000 after buying an additional 130 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Down 0.5 %

Amazon.com stock opened at $225.04 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50-day simple moving average is $198.19 and its 200-day simple moving average is $188.47. The firm has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a PEG ratio of 1.52 and a beta of 1.16. Amazon.com, Inc. has a 52 week low of $143.64 and a 52 week high of $230.08.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

AMZN has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Pivotal Research initiated coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. DA Davidson reaffirmed a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Morgan Stanley raised their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.42.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,030,183 shares of company stock worth $1,252,883,795 over the last three months. Company 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.