Lumbard & Kellner LLC Has $5.44 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Lumbard & Kellner LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,215.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,597 shares of the e-commerce giant's stock after purchasing an additional 27,362 shares during the quarter. Amazon.com makes up about 2.4% of Lumbard & Kellner LLC's investment portfolio, making the stock its 17th biggest holding. Lumbard & Kellner LLC's holdings in Amazon.com were worth $5,441,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMZN. Norges Bank acquired a new stake in Amazon.com in the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC lifted its stake in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after acquiring an additional 30,104,520 shares during the last quarter. Capital World Investors lifted its stake in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after acquiring an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. lifted its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares in the company, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 13,570 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the sale, the senior vice president owned 47,030 shares in the company, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,426,963 shares of company stock worth $757,297,707 in the last quarter. Corporate insiders own 10.80% of the company's stock.

Amazon.com Price Performance

AMZN stock opened at $223.47 on Tuesday. The company's 50-day moving average price is $207.16 and its two-hundred day moving average price is $208.51. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month 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 market cap of $2.37 trillion, a P/E ratio of 36.40, a P/E/G ratio of 1.68 and a beta of 1.33.

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

Analyst Ratings Changes

A number of brokerages have commented on AMZN. Truist Financial increased their price target on shares of Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Cantor Fitzgerald increased their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Moffett Nathanson increased their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada dropped their price objective on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.60.

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.

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