58,469 Amazon.com, Inc. $AMZN Shares Acquired by Strategic Planning Group LLC

Key Points

• Strategic Planning Group increased its Amazon stake by 41.9% in the third quarter, adding 58,469 shares to reach 198,076 shares valued at about $49.4 million. Amazon is now 5.1% of the firm’s portfolio and its third-largest holding.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $321.74; 55 analysts rate the stock Buy, two Strong Buy, and three Hold.
• Amazon’s latest quarter slightly missed analyst expectations: EPS was $1.89 versus $1.97 expected, and revenue was $201.94 billion versus $202.22 billion expected. Revenue nevertheless grew 12.1% year over year.

Strategic Planning Group LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 41.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 198,076 shares of the e-commerce giant's stock after purchasing an additional 58,469 shares during the period. Amazon.com accounts for 5.1% of Strategic Planning Group LLC's portfolio, making the stock its 3rd largest position. Strategic Planning Group LLC's holdings in Amazon.com were worth $49,351,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its stake in Amazon.com by 5.5% during the second quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock valued at $95,504,904,000 after buying an additional 21,398,025 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Amazon.com in the second quarter worth $22,218,775,000. Bank of New York Mellon Corp bought a new position in shares of Amazon.com during the second quarter valued at $16,341,405,000. Amundi increased its holdings in shares of Amazon.com by 3.9% during the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock valued at $15,211,393,000 after acquiring an additional 2,421,739 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Amazon.com in the 2nd quarter worth about $12,831,376,000. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AMZN shares. KeyCorp set a $345.00 price objective on shares of Amazon.com and gave the company an "overweight" rating in a research report on Friday, October 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $250.00 target price on shares of Amazon.com in a report on Friday, October 30th. Yorkville Ives assumed coverage on shares of Amazon.com in a research note on Monday, October 19th. They issued an "outperform" rating and a $300.00 target price on the stock. Bank of America reiterated a "buy" rating and set a $317.00 price target on shares of Amazon.com in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $321.74.

Amazon.com Stock Performance

AMZN traded down $0.91 during midday trading on Friday, hitting $259.30. 42,467,151 shares of the company traded hands, compared to its average volume of 42,636,872. The company's 50-day moving average is $253.96 and its 200 day moving average is $243.57. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.80 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.86 and a beta of 1.49. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The company had revenue of $201.94 billion for the quarter, compared to analysts' expectations of $202.22 billion. During the same period in the previous year, the firm earned $1.95 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon's CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I'd Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Insider Buying and Selling

In other news, VP Shelley Reynolds sold 2,343 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $606,860.43. Following the transaction, the vice president directly owned 119,780 shares in the company, valued at $31,024,217.80. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $243.47, for a total value of $243,470.00. Following the completion of the sale, the chief executive officer directly owned 473,681 shares of the company's stock, valued at $115,327,113.07. The trade was a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,589 shares of company stock valued at $18,545,595 in the last ninety days. Corporate insiders own 8.90% of the company's stock.

Amazon.com Company Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

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