Sterneck Capital Management LLC Acquires New Shares in Amazon.com, Inc. (NASDAQ:AMZN)
Sterneck Capital Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,042 shares of the e-commerce giant’s stock, valued at approximately $3,281,000. Amazon.com accounts for about 2.8% of Sterneck Capital Management LLC’s holdings, making the stock its 10th biggest holding.
Several other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in Amazon.com during the 1st quarter worth $294,639,000. FMR LLC lifted its position in Amazon.com by 1.3% during the 2nd quarter. FMR LLC now owns 16,051,633 shares of the e-commerce giant’s stock worth $44,283,569,000 after acquiring an additional 212,006 shares during the last quarter. Capital International Investors lifted its position in Amazon.com by 7.3% during the 1st quarter. Capital International Investors now owns 4,599,769 shares of the e-commerce giant’s stock worth $8,968,262,000 after acquiring an additional 312,549 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Amazon.com by 18.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,516,147 shares of the e-commerce giant’s stock worth $12,459,236,000 after acquiring an additional 704,255 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Amazon.com by 10.7% during the 1st quarter. Capital Research Global Investors now owns 4,501,995 shares of the e-commerce giant’s stock worth $8,777,634,000 after acquiring an additional 435,331 shares during the last quarter. 57.32% of the stock is owned by institutional investors and hedge funds.
AMZN has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Amazon.com from $3,300.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JMP Securities boosted their target price on shares of Amazon.com from $2,850.00 to $4,075.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Piper Sandler started coverage on shares of Amazon.com in a research report on Friday, September 25th. They set an “overweight” rating and a $3,860.00 target price for the company. BidaskClub raised shares of Amazon.com from a “sell” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Benchmark upped their price objective on shares of Amazon.com from $3,675.00 to $3,800.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and forty-nine have issued a buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and an average target price of $3,438.90.
Shares of AMZN stock opened at $3,272.71 on Friday. The company has a market capitalization of $1,639.27 billion, a price-to-earnings ratio of 125.83, a P/E/G ratio of 3.59 and a beta of 1.35. Amazon.com, Inc. has a 12-month low of $1,626.03 and a 12-month high of $3,552.25. The firm has a fifty day moving average of $3,207.58 and a 200-day moving average of $2,802.40. The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 0.45.
Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $8.56. The business had revenue of $88.91 billion during the quarter, compared to the consensus estimate of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 20.47%. On average, equities analysts expect that Amazon.com, Inc. will post 31.61 EPS for the current year.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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