Amazon.com, Inc. (NASDAQ:AMZN) is Chase Investment Counsel Corp’s 3rd Largest Position

Chase Investment Counsel Corp lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,549 shares of the e-commerce giant’s stock after selling 3,691 shares during the period. Amazon.com makes up approximately 3.0% of Chase Investment Counsel Corp’s portfolio, making the stock its 3rd biggest holding. Chase Investment Counsel Corp’s holdings in Amazon.com were worth $8,859,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 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 grew its stake in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares during the period. Ameriprise Financial Inc. increased its position in shares of Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after acquiring an additional 1,329,150 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Amazon.com by 1.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after acquiring an additional 464,938 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $225.06 on Tuesday. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.54 and a beta of 1.16. 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 stock’s fifty day moving average is $205.83 and its two-hundred day moving average is $191.46.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. During the same quarter last year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMZN. Truist Financial increased their price target on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their target price on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group raised their target price on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Susquehanna upped their price target on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Moffett Nathanson increased their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Profile

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.