Leavell Investment Management Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Leavell Investment Management Inc. increased its holdings in Amazon by 4.4%, owning a total of 92,883 shares worth approximately $17.67 million, making it the fund's 22nd largest position.
• Amazon reported earnings of $1.68 per share for the last quarter, exceeding analysts' estimates of $1.31, alongside a revenue increase to $167.70 billion, a 13.3% year-over-year growth.
• Insider Jeffrey P. Bezos sold over 2.6 million shares, resulting in a 0.3% decrease in his ownership, while insiders collectively sold shares worth approximately $5.67 billion over the past ninety days.

Leavell Investment Management Inc. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,883 shares of the e-commerce giant's stock after acquiring an additional 3,941 shares during the quarter. Amazon.com comprises approximately 0.9% of Leavell Investment Management Inc.'s portfolio, making the stock its 22nd biggest position. Leavell Investment Management Inc.'s holdings in Amazon.com were worth $17,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC purchased a new position in shares of Amazon.com in the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth about $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the 4th quarter worth about $35,000. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Down 0.2%

Shares of AMZN traded down $0.54 during midday trading on Friday, reaching $222.59. 15,730,892 shares of the stock were exchanged, compared to its average volume of 44,948,480. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. 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 company's 50 day moving average is $219.27 and its two-hundred day moving average is $209.03. The company has a market capitalization of $2.37 trillion, a P/E ratio of 33.92, a PEG ratio of 1.50 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The business's revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMZN. Wells Fargo & Company lifted their price target on Amazon.com from $238.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. Piper Sandler lifted their price objective on Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial lifted their price objective on Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, HSBC lifted their price objective on Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $262.45.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer directly owned 512,050 shares in the company, valued at $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,102,037 shares of company stock valued at $5,674,937,048 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

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.