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

Trust Investment Advisors has sharply increased its investment in Amazon.com, Inc. (NASDAQ:AMZN) by 96.1% in the second quarter of 2024. According to the latest filing with the Securities and Exchange Commission, the firm now owns 2,745 shares of the renowned e-commerce company after acquiring an additional 1,345 shares during the quarter. The value of Trust Investment Advisors’ stake in Amazon is estimated to be around $530,000 based on the most recent data.

Other institutional investors have also made adjustments to their Amazon holdings recently. For instance, PayPay Securities Corp increased its holdings by 64.6% in the same quarter, now owning 163 shares valued at approximately $32,000 after purchasing an additional 64 shares. Christopher J. Hasenberg Inc significantly raised its stake by 650.0%, acquiring 300 shares worth about $58,000 after adding 260 shares. In the first quarter alone, Steph & Co. and Koesten Hirschmann & Crabtree INC made new investments in Amazon, valued at approximately $65,000 and $69,000 respectively. Innealta Capital LLC also initiated a new stake in the second quarter worth approximately $77,000. Notably, institutional investors collectively own 72.20% of Amazon's stock.

Analysts Adjust Price Targets

Recently, several brokerages have updated their price targets for Amazon shares. Stifel Nicolaus reduced their target from $228.00 to $224.00 while maintaining a “buy” rating on the stock as of August 2nd. Wells Fargo & Company downgraded Amazon from an “overweight” to an “equal weight” rating, with a lowered target price of $183.00 from $225.00 on October 7th. Similarly, Bank of America cut the target from $220.00 to $210.00 but still holds a “buy” rating. Conversely, Truist Financial raised its target from $230.00 to $265.00 along with a “buy” rating issued on September 30th. Additionally, Jefferies Financial Group decreased their price target from $235.00 to $225.00, while the overall market sentiment reflects two analysts rating the stock as hold, forty-two assigning it a buy, and one offering a strong buy suggestion. As per MarketBeat, the prevailing average rating for Amazon is “Moderate Buy” with a target price of $236.78.

Amazon.com Stock Overview

As of the latest trading session, Amazon.com shares (NASDAQ:AMZN) opened at $188.99. Over the past year, the stock has reached a low of $118.35 and a high of $201.20, maintaining a market capitalization of $1.97 trillion. With a P/E ratio of 52.94 and a beta of 1.14, the company also holds a 50-day simple moving average of $181.98 and a 200-day simple moving 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.

Amazon recently shared its quarterly earnings report, announcing an EPS of $1.23 for the quarter which surpassed analysts’ expectations of $1.05. The company achieved a net margin of 7.35% and returned equity of 21.39%. During this quarter, Amazon generated revenues of $147.98 billion, compared to analyst expectations of $148.63 billion. Analysts anticipate Amazon.com will report an EPS of 4.85 for the current fiscal year.

Insider Transactions

In recent insider activity, Senior Vice President David Zapolsky sold 2,190 shares at an average price of $195.00 on September 24th, totaling about $427,050. Following this sale, he retained ownership of 62,420 shares valued at roughly $12,171,900, reflecting a 0.00% decrease in his position. Similarly, VP Shelley Reynolds sold 3,791 shares on August 21st for about $686,322.64. This sale did not alter her total holdings significantly as she now holds 121,461 shares valued at approximately $21,989,299. In the past ninety days, insiders have sold a total of 54,355 shares for around $9,877,423. Currently, company insiders possess about 10.80% of Amazon’s stock.

About Amazon.com, Inc.

Amazon.com, Inc. specializes in the retail sale of consumer goods, advertising, and subscription services through both online and physical platforms globally. The company operates three main segments: North America, International, and Amazon Web Services (AWS). In addition to retail, Amazon also develops and manufactures various electronic devices such as Kindles, Fire tablets, Echo devices, and more, alongside producing media content.

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