Hudson Valley Investment Advisors Inc. ADV Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Hudson Valley Investment Advisors Inc. ADV grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,690 shares of the e-commerce giant's stock after buying an additional 5,732 shares during the quarter. Amazon.com accounts for approximately 2.3% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 9th biggest holding. Hudson Valley Investment Advisors Inc. ADV's holdings in Amazon.com were worth $19,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at $749,000. Segall Bryant & Hamill LLC lifted its holdings in Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Bearing Point Capital LLC acquired a new position in Amazon.com in the fourth quarter valued at about $12,014,000. Evergreen Capital Management LLC grew its stake in Amazon.com by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock worth $53,213,000 after buying an additional 1,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Amazon.com by 173.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock worth $759,434,000 after buying an additional 2,196,353 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMZN. Bank of America lifted their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Citizens Jmp cut their price objective on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Truist Financial reduced their price objective on Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Piper Sandler restated an "overweight" rating and set a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, Tigress Financial lifted their price target on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $245.53.

Amazon.com Trading Down 1.3%

Shares of AMZN traded down $2.83 during trading hours on Friday, reaching $209.69. The stock had a trading volume of 75,281,131 shares, compared to its average volume of 42,294,602. The company has a market cap of $2.23 trillion, a P/E ratio of 34.15, a P/E/G ratio of 1.61 and a beta of 1.33. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $197.91 and a 200 day moving average of $209.34.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the completion of the transaction, the chief executive officer now directly owns 517,050 shares of the company's stock, valued at approximately $105,984,909. This represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Zapolsky sold 13,570 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the transaction, the senior vice president now owns 47,030 shares of the company's stock, valued at approximately $9,519,342.30. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is owned by corporate 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.