Carnegie Investment Counsel Buys 2,767 Shares of Amazon.com, Inc. $AMZN

Key Points

• Carnegie Investment Counsel increased its Amazon stake by 2,767 shares during the third quarter, bringing its holdings to 434,798 shares worth approximately $108.3 million. Amazon represents about 2% of the firm’s portfolio.
• Amazon reported third-quarter revenue growth of 12.1% to $201.94 billion, but EPS of $1.89 fell short of the $1.97 consensus estimate. Analysts remain generally bullish, with a consensus “Moderate Buy” rating and an average price target of $320.86.
• Investor focus remains on AWS and artificial-intelligence growth, while heavy AI and data-center spending could pressure free cash flow. Insiders have also sold 70,589 shares worth about $18.3 million over the past three months.

Carnegie Investment Counsel boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 434,798 shares of the e-commerce giant's stock after buying an additional 2,767 shares during the quarter. Amazon.com accounts for approximately 2.0% of Carnegie Investment Counsel's portfolio, making the stock its 8th largest holding. Carnegie Investment Counsel's holdings in Amazon.com were worth $108,330,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TOP Private Wealth LLC. acquired a new position in shares of Amazon.com during the 2nd quarter worth approximately $29,000. Bard Associates Inc. acquired a new stake in Amazon.com in the 2nd quarter worth about $32,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Amazon.com in the second quarter worth approximately $33,000. Atomic Invest LLC grew its stake in shares of Amazon.com by 41.2% during the 2nd quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant's stock valued at $40,000 after buying an additional 49 shares during the period. Finally, Strategic Wealth Advisors LLC purchased a new stake in Amazon.com during the second quarter valued at about $68,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Key Amazon.com News

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

• Positive Sentiment: Phillip Securities upgraded Amazon (AMZN) to Buy from Accumulate and raised its price target to $330 from $320, citing strong cloud demand visibility and Amazon’s positioning in artificial intelligence. Stock Market Today, Nov. 2: Amazon Rallies on Phillip Securities Buy Upgrade and $330 Target
• Positive Sentiment: Investors are emphasizing AWS, where revenue reportedly grew 39%, alongside improving operating leverage in Amazon’s retail business. Analysts argue that AWS could become a substantially larger profit and revenue driver over time. Is Amazon Stock a Buy as Cloud Revenue Continues to Surge?
• Positive Sentiment: Additional bullish commentary includes reiterated outperform and buy ratings, with some analysts maintaining targets above $300. Amazon’s broad exposure to e-commerce, advertising, cloud computing and AI supports the long-term investment case. Amazon’s AWS Growth and Profitability Support a Buy Despite Price Target Cut to $300
• Positive Sentiment: Amazon’s $25 Thanksgiving meal bundle with same-day delivery highlights continued efforts to increase grocery convenience and holiday spending, although the direct earnings impact is likely limited. Amazon Offers Same-Day Delivery for Thanksgiving Meals
• Neutral Sentiment: Amazon’s third-quarter revenue rose 12.1% to approximately $201.9 billion, but earnings of $1.89 per share missed the $1.97 consensus estimate. The mixed results explain the recent volatility and leave investors focused on AWS profitability and forward spending.
• Negative Sentiment: Amazon’s aggressive AI and data-center investment plan is expected to pressure free cash flow. A proposed $2 billion Ohio data center also faces local opposition, creating potential delays or additional costs. Amazon’s $2 Billion Data Center Faces Election Day Threat
• Negative Sentiment: Some analysts warn that AI shopping agents could reduce Amazon’s control over product discovery, customer traffic and advertising, posing a longer-term competitive threat. The Shopping Bots Are Coming for Amazon

Amazon.com Stock Performance

AMZN opened at $245.63 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. The company has a market capitalization of $2.65 trillion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.45. The business has a 50 day moving average price of $254.02 and a two-hundred day moving average price of $243.11. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The firm had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. Amazon.com's revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 earnings per share. Research analysts predict that Amazon.com, Inc. will post 8.00 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,258 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $10,699,926.30. The trade was a 18.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian T. Olsavsky sold 6,172 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $260.31, for a total value of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares of the company's stock, valued at approximately $28,427,674.17. This represents a 5.35% decrease in their ownership of the stock. 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 70,589 shares of company stock worth $18,302,125 in the last three months. Insiders own 8.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush dropped their price objective on shares of Amazon.com from $310.00 to $298.00 and set an "outperform" rating for the company in a research report on Friday. Robert W. Baird set a $310.00 target price on Amazon.com and gave the company an "outperform" rating in a research report on Friday, July 31st. Wells Fargo & Company decreased their price target on Amazon.com from $329.00 to $326.00 and set an "overweight" rating for the company in a research note on Friday. KeyCorp set a $345.00 target price on shares of Amazon.com and gave the company an "overweight" rating in a research note on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Amazon.com in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $320.86.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company's principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.

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