Amazon.com, Inc. (NASDAQ:AMZN) is Sumitomo Life Insurance Co.'s 10th Largest Position

Sumitomo Life Insurance Co. lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,765 shares of the e-commerce giant's stock after purchasing an additional 2,066 shares during the quarter. Amazon.com accounts for about 1.3% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 10th biggest holding. Sumitomo Life Insurance Co.'s holdings in Amazon.com were worth $35,153,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Western Wealth Management LLC grew its holdings in shares of Amazon.com by 0.9% in the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock worth $26,660,000 after acquiring an additional 1,297 shares during the period. Momentous Wealth Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter worth $749,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Amazon.com in the first quarter worth $514,000. Segall Bryant & Hamill LLC grew its holdings in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after acquiring an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC bought a new stake in shares of Amazon.com in the fourth quarter worth $12,014,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Down 0.6%

Shares of NASDAQ AMZN opened at $221.30 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.36 trillion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The stock's fifty day simple moving average is $219.94 and its two-hundred day simple moving average is $208.52. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. As a group, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Susquehanna upped their price target on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on Amazon.com from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price target for the company in a research report on Friday, June 27th. Finally, Truist Financial upped their price target on Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $262.45.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at $111,114,850. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,101,037 shares of company stock worth $5,674,726,368 in the last ninety days. Insiders own 10.80% of the company's stock.

Amazon.com Company 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.

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