Sterling Financial Group Inc. Has $1.89 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sterling Financial Group Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,919 shares of the e-commerce giant's stock after buying an additional 2,146 shares during the period. Amazon.com makes up 0.7% of Sterling Financial Group Inc.'s investment portfolio, making the stock its 24th biggest holding. Sterling Financial Group Inc.'s holdings in Amazon.com were worth $1,887,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Accordant Advisory Group Inc raised its position in Amazon.com by 256.8% in the first quarter. Accordant Advisory Group Inc now owns 446 shares of the e-commerce giant's stock worth $85,000 after purchasing an additional 321 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Amazon.com by 2.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 610,329 shares of the e-commerce giant's stock worth $116,121,000 after buying an additional 15,262 shares in the last quarter. Neumann Capital Management LLC increased its holdings in shares of Amazon.com by 19.5% during the first quarter. Neumann Capital Management LLC now owns 11,040 shares of the e-commerce giant's stock worth $2,100,000 after buying an additional 1,800 shares in the last quarter. Defined Financial Planning LLC increased its holdings in shares of Amazon.com by 11.2% during the first quarter. Defined Financial Planning LLC now owns 6,507 shares of the e-commerce giant's stock worth $1,250,000 after buying an additional 653 shares in the last quarter. Finally, FMB Wealth Management increased its holdings in shares of Amazon.com by 9.1% during the first quarter. FMB Wealth Management now owns 4,370 shares of the e-commerce giant's stock worth $831,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling

In related news, Director Keith Brian Alexander sold 1,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now directly owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now owns 517,050 shares in the company, valued at approximately $105,984,909. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last ninety days. Company insiders own 9.70% of the company's stock.

Amazon.com Trading Up 2.8%

Shares of NASDAQ AMZN traded up $6.18 during midday trading on Friday, reaching $223.30. 119,087,933 shares of the stock were exchanged, compared to its average volume of 42,021,779. The business has a 50-day simple moving average of $202.26 and a two-hundred day simple moving average of $208.86. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 1.68 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMZN. Oppenheimer raised their price objective on shares of Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Citigroup reaffirmed a "buy" rating on shares of Amazon.com in a report on Monday, June 2nd. UBS Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Tuesday, May 6th. 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 report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $245.81.

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.