Covenant Partners LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,011 shares of the e-commerce giant’s stock after selling 116 shares during the period. Amazon.com makes up about 1.3% of Covenant Partners LLC’s holdings, making the stock its 11th biggest position. Covenant Partners LLC’s holdings in Amazon.com were worth $2,789,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. DRH Investments Inc. grew its stake in Amazon.com by 5.1% during the second quarter. DRH Investments Inc. now owns 6,207 shares of the e-commerce giant’s stock valued at $17,124,000 after acquiring an additional 300 shares in the last quarter. Legacy Advisors LLC boosted its stake in shares of Amazon.com by 23.3% in the 2nd quarter. Legacy Advisors LLC now owns 1,038 shares of the e-commerce giant’s stock valued at $2,864,000 after purchasing an additional 196 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Amazon.com by 7.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 68,348 shares of the e-commerce giant’s stock valued at $133,260,000 after buying an additional 4,521 shares during the last quarter. Comerica Bank raised its holdings in Amazon.com by 6.4% during the 2nd quarter. Comerica Bank now owns 88,908 shares of the e-commerce giant’s stock valued at $275,606,000 after buying an additional 5,326 shares during the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Amazon.com by 6.6% during the 1st quarter. IHT Wealth Management LLC now owns 6,500 shares of the e-commerce giant’s stock valued at $12,673,000 after buying an additional 405 shares during the last quarter. 57.32% of the stock is currently owned by institutional investors.
AMZN has been the subject of several research reports. Royal Bank of Canada restated a “buy” rating on shares of Amazon.com in a report on Monday, August 3rd. BofA Securities increased their price target on shares of Amazon.com from $3,280.00 to $3,560.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Edward Jones reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, July 31st. Piper Sandler upgraded shares of Amazon.com to a “buy” rating in a research note on Monday, June 1st. Finally, Pivotal Research reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, July 31st. Six analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $3,291.50.
In related news, Director Indra K. Nooyi bought 27 shares of the stock in a transaction dated Wednesday, July 1st. The stock was purchased at an average cost of $2,806.80 per share, with a total value of $75,783.60. Following the completion of the purchase, the director now owns 707 shares of the company’s stock, valued at $1,984,407.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 292 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $3,173.12, for a total transaction of $926,551.04. Following the sale, the vice president now directly owns 6,281 shares of the company’s stock, valued at $19,930,366.72. The disclosure for this sale can be found here. Insiders have sold 102,815 shares of company stock valued at $324,095,003 over the last ninety days. 16.10% of the stock is owned by insiders.
NASDAQ AMZN opened at $3,160.83 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $3,230.98 and a two-hundred day moving average of $2,603.18. The firm has a market capitalization of $1,580.87 billion, a price-to-earnings ratio of 121.34, a PEG ratio of 3.23 and a beta of 1.32. Amazon.com, Inc. has a 52 week low of $1,626.03 and a 52 week high of $3,552.25.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, topping the consensus estimate of $1.74 by $8.56. The company had revenue of $88.91 billion during the quarter, compared to analyst estimates of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 20.47%. Equities research analysts anticipate that Amazon.com, Inc. will post 31.92 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.
Further Reading: What does a dividend yield signify to investors?
Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN).
Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.