Truist Financial Corp Acquires 21,407 Shares of Amazon.com, Inc. $AMZN

Key Points

• Truist Financial Corp increased its Amazon stake by 0.5% in the fourth quarter, buying 21,407 more shares and bringing its total holding to 4.4 million shares worth about $1.02 billion.
• Amazon’s recent earnings beat expectations, with Q1 EPS of $2.78 versus $1.63 expected and revenue of $181.5 billion, up 16.6% year over year.
• Analysts remain broadly bullish on AMZN, with 57 Buy ratings, only three Holds, and a consensus price target of $312.66, well above the stock’s recent price around $265.

Truist Financial Corp lifted its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,398,002 shares of the e-commerce giant's stock after buying an additional 21,407 shares during the period. Amazon.com makes up about 1.4% of Truist Financial Corp's investment portfolio, making the stock its 12th biggest position. Truist Financial Corp's holdings in Amazon.com were worth $1,015,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC boosted its stake in shares of Amazon.com by 113.2% in the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock worth $25,000 after buying an additional 60 shares during the last quarter. Sellwood Investment Partners LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth $27,000. MilWealth Group LLC boosted its stake in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after buying an additional 79 shares during the last quarter. Bridge Generations Wealth Management LLC boosted its stake in shares of Amazon.com by 2,330.0% in the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after buying an additional 233 shares during the last quarter. Finally, Cooksen Wealth LLC boosted its stake in shares of Amazon.com by 23.5% in the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock worth $54,000 after buying an additional 47 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at approximately $581,042,879.72. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 195,774 shares of company stock valued at $51,552,494. 8.90% of the stock is owned by insiders.

Amazon.com Trading Down 0.4%

Shares of AMZN stock opened at $265.29 on Wednesday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average price is $241.79 and its 200-day moving average price is $231.93. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $177.28 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The business's revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Amazon.com News Roundup

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus set a $319.00 price target on Amazon.com and gave the stock a "buy" rating in a research note on Thursday, April 30th. Benchmark raised their price target on Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Wedbush lowered their target price on Amazon.com from $340.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Robert W. Baird lifted their target price on Amazon.com from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Finally, TD Securities upgraded Amazon.com to a "buy" rating in a research report on Monday, April 13th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $312.66.

Amazon.com 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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