OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 269.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,677,131 shares of the e-commerce giant's stock after buying an additional 1,223,351 shares during the period. Amazon.com accounts for approximately 1.5% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 12th biggest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Amazon.com were worth $319,091,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the fourth quarter valued at approximately $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the 4th quarter valued at $27,000. LSV Asset Management bought a new stake in Amazon.com in the 4th quarter valued at $35,000. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 72.20% of the company's stock.
Amazon.com Stock Performance
AMZN stock traded up $0.93 during midday trading on Friday, reaching $231.91. The company had a trading volume of 11,049,339 shares, compared to its average volume of 44,744,438. The stock has a 50 day moving average price of $221.06 and a 200 day moving average price of $208.69. The firm has a market capitalization of $2.47 trillion, a PE ratio of 35.44, a P/E/G ratio of 1.51 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52.
Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The firm had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.
Insider Activity at Amazon.com
In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. Insiders own 9.70% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on AMZN shares. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Bank of America boosted their target price on shares of Amazon.com from $265.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a report on Tuesday, July 1st. Stifel Nicolaus boosted their target price on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $262.87.
Check Out Our Latest Research Report on Amazon.com
Amazon.com Profile
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Free Report)
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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