Glenview Trust Co Purchases 32,491 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 24th, 2023

Glenview Trust Co grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 413,527 shares of the e-commerce giant’s stock after purchasing an additional 32,491 shares during the quarter. Amazon.com makes up 1.2% of Glenview Trust Co’s holdings, making the stock its 22nd biggest holding. Glenview Trust Co’s holdings in Amazon.com were worth $34,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Dohj LLC increased its position in Amazon.com by 1.8% during the 3rd quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock valued at $2,807,000 after purchasing an additional 451 shares during the period. Bassett Hargrove Investment Counsel LLC bought a new position in Amazon.com during the third quarter worth $2,120,000. Veritas Asset Management LLP raised its stake in Amazon.com by 19.6% during the fourth quarter. Veritas Asset Management LLP now owns 7,868,621 shares of the e-commerce giant’s stock worth $660,964,000 after buying an additional 1,286,797 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp lifted its holdings in Amazon.com by 1.2% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 313,317 shares of the e-commerce giant’s stock valued at $35,405,000 after buying an additional 3,840 shares during the period. Finally, Sarasin & Partners LLP boosted its position in Amazon.com by 0.7% during the fourth quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock valued at $207,350,000 after acquiring an additional 17,993 shares during the last quarter. 57.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Amazon.com from $142.00 to $144.00 in a research report on Wednesday, April 12th. Cowen boosted their price target on Amazon.com from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Evercore ISI reduced their price target on shares of Amazon.com from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Monday, April 3rd. Morgan Stanley increased their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, UBS Group boosted their target price on Amazon.com from $125.00 to $130.00 in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.12.

Amazon.com Stock Down 0.0 %

AMZN stock opened at $114.99 on Wednesday. The stock has a fifty day moving average of $104.48 and a 200-day moving average of $97.42. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 273.79, a PEG ratio of 4.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The firm had revenue of $127.36 billion during the quarter, compared to analyst estimates of $124.57 billion. During the same quarter last year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total value of $375,200.00. Following the completion of the transaction, the chief executive officer now directly owns 560,298 shares in the company, valued at $52,555,952.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total transaction of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at $52,555,952.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the completion of the sale, the chief executive officer now owns 1,997,681 shares in the company, valued at $230,472,456.97. The disclosure for this sale can be found here. Insiders have sold 75,144 shares of company stock valued at $8,405,887 in the last 90 days. 12.70% of the stock is currently owned by company insiders.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.