Parsons Capital Management Inc. RI Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Parsons Capital Management Inc. RI boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 23.7% during the 4th quarter, Holdings Channel reports. The fund owned 288,451 shares of the e-commerce giant’s stock after buying an additional 55,186 shares during the period. Amazon.com comprises about 3.4% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 5th largest position. Parsons Capital Management Inc. RI’s holdings in Amazon.com were worth $63,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Legal & General Group Plc lifted its position in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after buying an additional 1,984,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after buying an additional 1,980,663 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $228.68 on Monday. The company’s fifty day moving average price is $228.21 and its 200 day moving average price is $202.44. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 41.35, a P/E/G ratio of 1.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on AMZN. Evercore ISI increased their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research report on Tuesday, December 3rd. UBS Group increased their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,848 shares of company stock valued at $11,368,639. 10.80% of the stock is owned by company insiders.

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.