Today, Advisors Asset Management Inc. Raises Stake in Amazon.com Inc. (AMZN)

Today, Advisors Asset Management Inc. Raises Stake in Amazon.com Inc. (AMZN)
Advisors Asset Management Inc. raised its stake in Amazon.com Inc. (NASDAQ:AMZN) by 15.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,360 shares of the e-commerce giant’s stock after buying an additional 6,305 shares during the period. Amazon.com comprises about 0.7% of Advisors Asset Management Inc.’s portfolio, making the stock its 7th largest position. Advisors Asset Management Inc.’s holdings in Amazon.com were worth $39,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMZN. APG Asset Management N.V. raised its position in shares of Amazon.com by 6.3% in the third quarter. APG Asset Management N.V. now owns 735,359 shares of the e-commerce giant’s stock valued at $615,723,000 after buying an additional 43,900 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its position in shares of Amazon.com by 1.0% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 29,796 shares of the e-commerce giant’s stock valued at $24,948,000 after buying an additional 290 shares during the last quarter. WCM Investment Management CA raised its position in shares of Amazon.com by 30.2% in the third quarter. WCM Investment Management CA now owns 56,224 shares of the e-commerce giant’s stock valued at $47,077,000 after buying an additional 13,031 shares during the last quarter. Isthmus Partners LLC raised its position in shares of Amazon.com by 3.8% in the third quarter. Isthmus Partners LLC now owns 415 shares of the e-commerce giant’s stock valued at $346,000 after buying an additional 15 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its position in shares of Amazon.com by 3.0% in the third quarter. State of Wisconsin Investment Board now owns 416,057 shares of the e-commerce giant’s stock valued at $348,369,000 after buying an additional 12,000 shares during the last quarter. 65.50% of the stock is owned by institutional investors.

Amazon.com Inc. (NASDAQ:AMZN) traded up 0.03% during trading on Friday, reaching $780.37. The company had a trading volume of 1,837,068 shares. Amazon.com Inc. has a 52 week low of $474.00 and a 52 week high of $847.21. The company’s 50-day moving average is $791.62 and its 200 day moving average is $760.15. The firm has a market capitalization of $370.81 billion, a price-to-earnings ratio of 178.78 and a beta of 1.51.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by $0.28. The business earned $32.71 billion during the quarter, compared to analyst estimates of $32.69 billion. Amazon.com had a return on equity of 13.47% and a net margin of 1.64%. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. Equities analysts anticipate that Amazon.com Inc. will post $4.77 EPS for the current year.

Several brokerages have recently commented on AMZN. William Blair reissued a “buy” rating and set a $719.07 price objective on shares of Amazon.com in a report on Wednesday, November 16th. TheStreet lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Zacks Investment Research lowered Amazon.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 1st. Axiom Securities boosted their price objective on Amazon.com from $877.00 to $953.00 and gave the stock a “buy” rating in a report on Tuesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and set a $950.00 price objective on shares of Amazon.com in a report on Monday, October 31st. Six research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $912.64.

In related news, CEO Andrew R. Jassy sold 14,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the transaction, the chief executive officer now owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.70% of the stock is owned by corporate insiders.

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