PNC Financial Services Group Inc. Buys 115,108 Shares of Amazon.com, Inc. $AMZN

PNC Financial Services Group Inc. boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,828,548 shares of the e-commerce giant’s stock after buying an additional 115,108 shares during the quarter. Amazon.com comprises 0.8% of PNC Financial Services Group Inc.’s holdings, making the stock its 13th largest holding. PNC Financial Services Group Inc.’s holdings in Amazon.com were worth $1,422,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gryphon Financial Partners LLC boosted its position in shares of Amazon.com by 7.5% in the 1st quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant’s stock worth $15,221,000 after purchasing an additional 5,125 shares in the last quarter. Narwhal Capital Management increased its position in Amazon.com by 2.3% during the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock valued at $49,997,000 after buying an additional 4,854 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Amazon.com by 21.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock valued at $5,690,463,000 after buying an additional 4,275,942 shares in the last quarter. Weaver Capital Management LLC raised its stake in Amazon.com by 13.6% during the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock valued at $9,063,000 after buying an additional 4,713 shares during the last quarter. Finally, Ethos Financial Group LLC raised its stake in Amazon.com by 9.6% during the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock valued at $8,421,000 after buying an additional 3,196 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: AWS growth is strengthening the AI investment case. Second-quarter revenue rose 19.6% to $200.6 billion, while AWS revenue increased 37% and operating income rose sharply. Investors are increasingly confident that Amazon’s infrastructure spending is translating into cloud demand, margins and future revenue visibility. Amazon AWS growth article
• Positive Sentiment: Analysts remain constructive. Multiple firms have raised price targets, with reported targets generally above the current share price. A large AWS backlog and accelerating AI-related demand are supporting the bullish outlook. Amazon analyst targets and AWS backlog
• Positive Sentiment: AI monetization is broadening. Amazon’s investment in Anthropic and its OpenAI partnership could increase demand for AWS chips and infrastructure. Personalized recommendations and AI features in Prime Video may also improve engagement and create additional monetization opportunities. Amazon Prime Video AI article
• Neutral Sentiment: Recent momentum may be vulnerable to profit-taking. Short covering and strong post-earnings buying helped drive the recent rally, but some analysts have downgraded Amazon to more moderate recommendations as valuation and expectations rise. Amazon rating downgrade
• Negative Sentiment: Bezos’ planned sale is the main near-term overhang. The proposed disposal, valued at roughly $4 billion to $4.7 billion, increases potential supply and has been interpreted as a sentiment “buzzkill” immediately after the stock’s record high. Jeff Bezos Amazon share sale
• Negative Sentiment: Risks from spending and regulation remain. Amazon faces very large AI capital commitments, negative free cash flow and future data-center lease obligations. New Jersey also sued over alleged delivery-network wage suppression, while a court allowed Perplexity’s AI shopping tools to continue operating on Amazon’s platform, potentially increasing competitive and security concerns. Big Tech AI data-center lease obligations

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the sale, the chief executive officer owned 2,205,766 shares of the company’s stock, valued at $581,042,879.72. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. 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 sold 76,867 shares of company stock worth $20,253,702. Company insiders own 8.90% of the company’s stock.

Amazon.com Stock Down 2.3%

Shares of Amazon.com stock opened at $277.42 on Wednesday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $246.29 and its 200 day moving average is $236.73. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The firm’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Research analysts anticipate that Amazon.com, Inc. will post 8.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen reissued a “buy” rating and issued a $350.00 target price (up from $340.00) on shares of Amazon.com in a report on Friday. Wells Fargo & Company restated an “overweight” rating and set a $328.00 price target (up from $322.00) on shares of Amazon.com in a report on Friday. Mizuho set a $330.00 price target on Amazon.com and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, June 18th. Finally, Morgan Stanley reissued an “overweight” rating and set a $335.00 price objective (up from $330.00) on shares of Amazon.com in a research report on Friday. Fifty-six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $322.56.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.