Amazon.com, Inc. $AMZN Stock: Royal Fund Management LLC Grows Position

Royal Fund Management LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 47.0% in the 3rd quarter, Holdings Channel reports. The firm owned 47,873 shares of the e-commerce giant’s stock after purchasing an additional 15,317 shares during the period. Amazon.com accounts for about 0.9% of Royal Fund Management LLC’s investment portfolio, making the stock its 29th biggest holding. Royal Fund Management LLC’s holdings in Amazon.com were worth $11,928,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Amazon.com by 5.5% during the second quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant’s stock worth $95,504,904,000 after buying an additional 21,398,025 shares during the period. Bank of America Corp DE purchased a new position in shares of Amazon.com during the second quarter worth about $22,218,775,000. Bank of New York Mellon Corp purchased a new position in shares of Amazon.com during the second quarter worth about $16,341,405,000. Amundi increased its position in Amazon.com by 3.9% in the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock valued at $15,211,393,000 after acquiring an additional 2,421,739 shares during the period. Finally, Legal & General Group Plc acquired a new position in Amazon.com in the 2nd quarter valued at about $12,831,376,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN traded down $0.91 during trading hours on Friday, reaching $259.30. The company had a trading volume of 42,467,151 shares, compared to its average volume of 42,636,872. The firm has a 50 day simple moving average of $253.96 and a 200-day simple moving average of $243.57. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.86 and a beta of 1.49. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $201.94 billion during the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.95 EPS. Research analysts expect that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

More Amazon.com News

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Analysts Set New Price Targets

A number of analysts have weighed in on AMZN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amazon.com in a research report on Friday, October 30th. KeyCorp set a $345.00 target price on Amazon.com and gave the company an “overweight” rating in a report on Friday, October 30th. Bank of America reissued a “buy” rating and issued a $317.00 target price on shares of Amazon.com in a report on Friday, October 30th. Benchmark upped their price objective on shares of Amazon.com from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “conviction-buy” rating and issued a $370.00 target price on shares of Amazon.com in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 6,362 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $1,647,821.62. Following the sale, the chief executive officer directly owned 476,681 shares in the company, valued at $123,465,145.81. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian T. Olsavsky sold 6,172 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares in the company, valued at approximately $28,427,674.17. The trade was a 5.35% 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. Over the last quarter, insiders have sold 71,589 shares of company stock valued at $18,545,595. Company insiders own 8.90% of the company’s stock.

Amazon.com Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.