Richard C. Young & CO. LTD. Increases Stake in Amazon.com, Inc.

Richard C. Young & CO. LTD. has increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the third quarter, according to a report from Holdings Channel.com. After acquiring an additional 2,052 shares, the fund now owns a total of 87,746 shares in the e-commerce giant. This investment represents approximately 1.8% of Richard C. Young & CO. LTD.’s overall portfolio, making Amazon.com its 21st largest holding. At the close of the latest quarter, these holdings in Amazon.com were valued at around $16,350,000.

In addition to Richard C. Young & CO. LTD., several other hedge funds have also adjusted their positions in Amazon.com recently. For instance, Tsfg LLC increased its stake by 6.5% in the second quarter, now owning 40,602 shares valued at $7,846,000. Likewise, Sky Investment Group LLC grew its investment by 3.8%, ending up with 25,809 shares valued at approximately $4,988,000. Key Client Fiduciary Advisors LLC raised its stake by 1.0%, resulting in 27,844 shares worth around $5,381,000. PGGM Investments boosted its holdings by 4.4%, accumulating 349,715 shares valued at $67,582,000 after buying an additional 14,756 shares. Lastly, Envestnet Portfolio Solutions Inc. increased its investment by 5.6%, now possessing 548,166 shares valued at $105,933,000. Overall, hedge funds and other institutional investors own about 72.20% of Amazon.com’s stock.

Insider Trading Activity

Recent insider trading activity reveals that Director Jonathan Rubinstein sold 5,004 shares of Amazon.com on November 1, for an approximate total of $1,000,049.40 at an average price of $199.85 per share. Post-transaction, Rubinstein holds 99,396 shares valued near $19,864,290.60, marking a 4.79% decrease in his ownership. Additionally, Director Daniel P. Huttenlocher sold 1,237 shares on November 19 for about $246,237.22. After the sale, he owns 24,912 shares valued at about $4,958,982.72, reflecting a decrease of 4.73% in his ownership as well. In the previous quarter, insiders of Amazon.com sold a significant total of 6,032,344 shares worth over $1.25 billion. Insider ownership now stands at approximately 10.80%.

Recent Analyst Ratings

Amazon.com has been the focus of several recent research reports. On November 1, Evercore ISI raised its target price from $240.00 to $260.00, recommending an “outperform” rating for the stock. Following suit, Loop Capital increased their price target from $225.00 to $275.00 and rated the stock as a “buy.” Jefferies Financial Group recently upgraded Amazon.com’s target price from $235.00 to $275.00 with a “buy” rating noted in their report dated December 16. Similarly, Robert W. Baird raised their price target from $220.00 to $260.00, also assigning an “outperform” rating. Lastly, Redburn Atlantic upgraded their objective from $225.00 to $235.00, maintaining a “buy” rating. Currently, two analysts maintain a hold rating, while forty-one have recommended a buy, and one has given a strong buy rating. Overall, the average rating is “Moderate Buy” with a consensus price target of $243.00 according to MarketBeat.com.

Amazon.com Stock Performance

As of Friday, NASDAQ:AMZN opened at $223.75, down 1.5%. The company holds a debt-to-equity ratio of 0.21 with a current ratio of 1.09. Amazon.com has a market capitalization of approximately $2.35 trillion, a PE ratio of 47.91, and a price-to-earnings growth ratio of 1.54. Conversely, the stock has demonstrated sensitivity to market fluctuations, evidenced by a beta of 1.16. In terms of stock performance over the past year, Amazon.com reached a high of $233.00 and a low of $144.05. In its most recent earnings report released on October 31, Amazon reported a solid quarterly performance with an earnings per share (EPS) of $1.43, surpassing analyst predictions of $1.14, alongside revenue of $158.88 billion.

About Amazon.com

Amazon.com, Inc. is a leading retail company in the consumer goods sector, offering various products, advertising, and subscription services through both online and physical stores across North America and globally. The organization operates through three main segments: North America, International, and Amazon Web Services (AWS), in addition to producing electronic devices such as Kindle, Fire tablets, and Fire TVs.

investment, Amazon, stocks