Trust Investment Advisors Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Trust Investment Advisors has significantly increased its investment in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, boosting its shares by 96.1%. According to the latest filing with the Securities & Exchange Commission, the firm now holds 2,745 shares of Amazon after acquiring an additional 1,345 shares in the recent quarter. This increase brings the total value of its holdings to approximately $530,000.

In addition to Trust Investment Advisors, various other institutional investors have also adjusted their Amazon positions. For instance, PayPay Securities Corp enhanced its stake by 64.6%, owning 163 shares after acquiring 64 more in the last quarter. Christopher J. Hasenberg Inc. experienced a remarkable 650.0% increase, now holding 300 shares worth $58,000 following the purchase of 260 shares. Other firms, including Steph & Co. and Koesten Hirschmann & Crabtree INC., have purchased new stakes in Amazon worth around $65,000 and $69,000, respectively. Lastly, Innealta Capital LLC bought a stake valued at approximately $77,000 in the second quarter. Overall, institutional investors collectively own 72.20% of Amazon's stock.

Brokerage Insights

Several brokerage firms have recently provided updates regarding their evaluation of Amazon's stock. Stifel Nicolaus has lowered its target price from $228.00 to $224.00 while maintaining a "buy" rating. Wells Fargo & Company has changed its rating from "overweight" to "equal weight," with their new price target set at $183.00, down from $225.00. On the other hand, Bank of America adjusted its target price from $220.00 to $210.00, continuing to support a "buy" rating. Conversely, Truist Financial raised its price target from $230.00 to $265.00, affirming a "buy" rating as well. Jefferies Financial Group also reduced its target from $235.00 to $225.00 but kept its "buy" recommendation. In total, two analysts have recommended holding the stock, while forty-two have given it a "buy" rating, and one analyst has a "strong buy" rating. As per MarketBeat, Amazon enjoys an average rating of "Moderate Buy" with an estimated price target of $236.78.

Amazon's Stock Overview

Amazon.com shares opened at $188.99 recently. The company has experienced a 52-week low of $118.35 and a 52-week high of $201.20. Its market capitalization stands at $1.97 trillion, with a P/E ratio of 52.94. The stock is characterized by its relatively stable earnings growth and competitive P/E ratio. Currently, the stock has a fifty-day simple moving average of $181.98 and a two-hundred-day average of $183.42. Financially, Amazon shows a quick ratio of 0.88, a current ratio of 1.10, and a debt-to-equity ratio of 0.23.

In terms of earnings, Amazon reported its quarterly results on August 1st. The company exceeded expectations with an earnings per share (EPS) of $1.23, beating the consensus estimate of $1.05 by $0.18. It recorded a net margin of 7.35% and achieved a return on equity of 21.39%. For this quarter, revenue was reported at $147.98 billion, slightly short of the anticipated $148.63 billion. Analysts are projecting an average of 4.85 earnings per share for the current fiscal year.

Recent Insider Transactions

Recent insider trading activity has also been noteworthy. David Zapolsky, Senior Vice President, sold 2,190 shares of Amazon on September 24th at an average price of $195.00, totaling $427,050. After this sale, Zapolsky now holds 62,420 shares, equivalent to roughly $12,171,900. Similarly, VP Shelley Reynolds sold 3,791 shares on August 21st at an average price of $181.04, yielding $686,322.64. Following this transaction, Reynolds continues to own 121,461 shares valued at around $21,989,299. In total, insiders have sold 54,355 shares in the last ninety days, amounting to $9,877,423 in value, and insiders hold approximately 10.80% of Amazon's stock.

Company Profile

Amazon.com, Inc. is engaged in the online and in-store retail of consumer products, alongside providing advertising and subscription services across various sectors. The company operates through different segments, including North America, International, and Amazon Web Services (AWS). Amazon is widely recognized for its vast range of products, including its e-reader Kindle, Fire tablets, Fire TVs, Echo smart speakers, and more.

Amazon, Investors, Stock, Growth, Market