Fifth Third Wealth Advisors LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Fifth Third Wealth Advisors LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,252 shares of the e-commerce giant’s stock after purchasing an additional 23,943 shares during the quarter. Amazon.com makes up about 2.2% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 8th biggest holding. Fifth Third Wealth Advisors LLC’s holdings in Amazon.com were worth $35,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during 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 last quarter. Bank of New York Mellon Corp boosted its position 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 worth $13,091,909,000 after purchasing an additional 289,532 shares during the last quarter. Ameriprise Financial Inc. raised its position in 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 during the period. International Assets Investment Management LLC raised its stake in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after buying an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Amazon.com by 1.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after purchasing an additional 464,938 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the 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 completion of the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Bank of America upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI increased their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Wedbush lifted their price target on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Trading Down 1.1 %

NASDAQ AMZN opened at $221.30 on Tuesday. The stock has a market capitalization of $2.33 trillion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm has a 50 day moving average of $209.73 and a two-hundred day moving average of $192.89. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during 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%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.