Wallington Asset Management LLC Has $19.27 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Wallington Asset Management trimmed its Amazon stake by 5.2% in the first quarter, but still held 92,548 shares valued at about $19.27 million. Amazon remains a meaningful holding, making up 2.6% of the firm’s portfolio.
• Institutional ownership of Amazon remains high, with 72.2% of shares held by institutional investors. Several large firms, including Vanguard, State Street, Geode Capital, and Norges Bank, reported significant positions or added to their holdings.
• Recent Amazon-related news has been broadly positive, including reports that it may raise at least $25 billion through a bond sale to fund AI investments and that AWS is expanding custom chip production and enterprise AI efforts. Despite that, the stock has faced some pressure, including a roughly 13% decline over the past month.

Wallington Asset Management LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,548 shares of the e-commerce giant's stock after selling 5,119 shares during the period. Amazon.com comprises 2.6% of Wallington Asset Management LLC's portfolio, making the stock its 16th biggest holding. Wallington Asset Management LLC's holdings in Amazon.com were worth $19,275,000 as of its most recent filing with the SEC.

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

Key Amazon.com News

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

• Positive Sentiment: Reuters reported that Amazon is looking to raise at least $25 billion through a U.S. dollar bond sale to help fund its large AI investments, signaling continued commitment to expanding its cloud and AI infrastructure. Amazon aims to raise $25 billion from bond sale, Bloomberg News reports
• Positive Sentiment: Amazon Web Services is accelerating its custom chip strategy, with reports saying AWS is pushing Trainium 3 production higher and reserving most of the new capacity for enterprise customers, which could support future margin expansion. Amazon Could be On the Cusp of Reshaping the Artificial Intelligence (AI) Chip Market. Should Nvidia Investors be Worried?
• Positive Sentiment: AWS is also reported to be investing $1 billion in forward-deployed engineers, a move that could deepen customer relationships and strengthen Amazon’s enterprise AI push. Amazon Follows Palantir's Playbook: How Forward Deployed Engineers Target the Enterprise AI Gold Rush
• Positive Sentiment: Reuters said fresh food offerings are boosting demand for Amazon’s 15-minute delivery service in Brazil, and the company is expanding its product selection there by 15%, showing traction in international quick-commerce. Fresh foods boost Amazon Now demand in Brazil, executive says
• Positive Sentiment: Multiple articles highlighted Amazon as a likely beneficiary of Anthropic’s growth and any future IPO, reinforcing the value of Amazon’s AI investments and strategic stake. Forget the Anthropic IPO: These 2 Stocks Could Benefit First
• Neutral Sentiment: Several commentary pieces discussed Amazon’s valuation, Prime Day, and whether the stock is attractive after its recent pullback, but these were more opinion-driven than new company-specific catalysts. Should Investors Buy Amazon Stock Instead of Walmart?
• Negative Sentiment: One article noted that Amazon has fallen about 13% over the past month, reflecting ongoing investor concern around near-term performance and possibly heavier spending. Down 13% in 1 Month, Is Amazon a Buy, or Is the Worst Still to Come?
• Negative Sentiment: There is also some market chatter about increased competition in e-commerce and delivery, including reports of rival low-price shopping platforms and retailer promotions, which could pressure Amazon’s retail business. Chu Hai Bang (Shenzhen) Technology Co., Ltd. Launches Vibeperk Global Low-Price Shopping Mall...

Analyst Ratings Changes

AMZN has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Amazon.com from $310.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Piper Sandler set a $330.00 price objective on shares of Amazon.com in a report on Thursday, June 11th. Evercore lifted their target price on shares of Amazon.com from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. TD Securities raised shares of Amazon.com to a "buy" rating in a research note on Monday, April 13th. Finally, Barclays reissued an "overweight" rating on shares of Amazon.com in a research report on Tuesday, June 9th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $312.79.

Amazon.com Price Performance

Shares of AMZN traded up $2.87 during trading hours on Tuesday, hitting $247.03. The stock had a trading volume of 5,884,606 shares, compared to its average volume of 50,336,535. The company's fifty day moving average is $254.57 and its two-hundred day moving average is $234.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The stock has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.81 and a beta of 1.46.

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

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This 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. In the last quarter, insiders have sold 195,774 shares of company stock valued at $51,643,704. Insiders own 8.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.