Sterling Investment Counsel LLC Has $5.09 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Sterling Investment Counsel LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,292 shares of the e-commerce giant’s stock after buying an additional 1,999 shares during the quarter. Amazon.com comprises 1.8% of Sterling Investment Counsel LLC’s portfolio, making the stock its 11th biggest position. Sterling Investment Counsel LLC’s holdings in Amazon.com were worth $5,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BetterWealth LLC boosted its position in shares of Amazon.com by 0.8% during the third quarter. BetterWealth LLC now owns 7,192 shares of the e-commerce giant’s stock worth $1,340,000 after purchasing an additional 60 shares in the last quarter. Coston McIsaac & Partners raised its stake in Amazon.com by 3.9% during the 3rd quarter. Coston McIsaac & Partners now owns 3,043 shares of the e-commerce giant’s stock worth $567,000 after buying an additional 113 shares during the period. Guidance Capital Inc. lifted its holdings in Amazon.com by 13.3% during the third quarter. Guidance Capital Inc. now owns 6,313 shares of the e-commerce giant’s stock worth $1,193,000 after acquiring an additional 743 shares in the last quarter. Litman Gregory Wealth Management LLC grew its stake in Amazon.com by 21.0% in the third quarter. Litman Gregory Wealth Management LLC now owns 4,610 shares of the e-commerce giant’s stock valued at $859,000 after acquiring an additional 800 shares during the period. Finally, Altus Wealth Group LLC increased its holdings in shares of Amazon.com by 2.1% in the third quarter. Altus Wealth Group LLC now owns 13,040 shares of the e-commerce giant’s stock worth $2,430,000 after acquiring an additional 272 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMZN shares. Roth Mkm boosted their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their price target on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $235.77.

Amazon.com Price Performance

Amazon.com stock opened at $201.45 on Tuesday. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 43.14, a PEG ratio of 1.32 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12 month low of $142.81 and a 12 month high of $215.90. The stock’s 50 day moving average is $193.33 and its 200-day moving average is $186.38.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. Corporate 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.