Brogan Financial Inc. Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 14th, 2023

Brogan Financial Inc. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,340 shares of the e-commerce giant’s stock, valued at approximately $281,000.

Several other institutional investors have also recently bought and sold shares of AMZN. State Street Corp raised its holdings in shares of Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC raised its holdings in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Amazon.com by 1,867.0% in the second quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after purchasing an additional 90,167,792 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Amazon.com by 1,909.7% in the second quarter. Swiss National Bank now owns 39,731,440 shares of the e-commerce giant’s stock valued at $4,219,876,000 after purchasing an additional 37,754,468 shares during the last quarter. Institutional investors and hedge funds own 57.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMZN. Truist Financial increased their target price on shares of Amazon.com from $142.00 to $144.00 in a report on Wednesday, April 12th. Mizuho increased their target price on shares of Amazon.com from $135.00 to $145.00 in a report on Friday, April 28th. Robert W. Baird raised their price objective on shares of Amazon.com from $125.00 to $130.00 in a report on Friday, April 28th. Rosenblatt Securities raised their price objective on shares of Amazon.com from $106.00 to $111.00 in a report on Friday, April 28th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $125.00 price objective on shares of Amazon.com in a report on Thursday, April 20th. Three equities research analysts have rated the stock with a hold rating and forty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.28.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 2,299 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total value of $230,681.66. Following the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 2,299 shares of Amazon.com stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the transaction, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $13,846,568. The disclosure for this sale can be found here. Insiders have sold 75,644 shares of company stock valued at $8,576,262 over the last three months. 12.70% of the stock is owned by corporate insiders.

Amazon.com Price Performance

AMZN stock opened at $126.66 on Wednesday. The firm has a 50 day moving average of $111.26 and a 200-day moving average of $100.38. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $146.57. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 301.57, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $127.36 billion for the quarter, compared to the consensus estimate of $124.57 billion. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. Amazon.com’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 1.56 earnings per share for the current fiscal year.

About Amazon.com

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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.