Lewis Asset Management LLC Increases Stake in Amazon.com, Inc. $AMZN

Key Points

• Lewis Asset Management LLC increased its Amazon stake by 9.7% in the first quarter, adding 3,340 shares to bring its total to 37,805 shares. Amazon now represents about 3.2% of the fund’s portfolio and was valued at $7.87 million at quarter-end.
• Amazon’s latest earnings topped expectations, with EPS of $2.78 versus $1.63 expected and revenue of $181.52 billion, up 16.6% year over year. The company also reported strong profitability, including a 19.92% return on equity.
• Analysts remain broadly bullish on Amazon, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating. Meanwhile, recent news highlights growth drivers such as the Leo satellite internet rollout, AI chip development, and strong Prime Day shopping demand.

Lewis Asset Management LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 37,805 shares of the e-commerce giant's stock after purchasing an additional 3,340 shares during the quarter. Amazon.com makes up approximately 3.2% of Lewis Asset Management LLC's investment portfolio, making the stock its 4th largest holding. Lewis Asset Management LLC's holdings in Amazon.com were worth $7,874,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares during the period. State Street Corp grew its holdings in Amazon.com by 1.8% during the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC raised its position in shares of Amazon.com by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock worth $51,753,622,000 after acquiring an additional 2,479,324 shares in the last quarter. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co lifted its stake in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares during the period. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $242.67 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The stock has a 50 day moving average price of $254.57 and a two-hundred day moving average price of $234.57. The stock has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company's quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley upped their target price on Amazon.com from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Robert W. Baird lifted their target price on Amazon.com from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. William Blair restated an "outperform" rating on shares of Amazon.com in a report on Thursday, April 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $313.00 price objective (up from $312.00) on shares of Amazon.com in a research report on Thursday. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $312.79.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This trade represents a 52.21% 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 195,774 shares of company stock worth $51,643,704 in the last ninety days. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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