Amazon.com (AMZN) Stock Rating Reaffirmed by Bank of America

Bank of America reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report sent to investors on Tuesday, The Fly reports. The firm currently has a $1,460.00 price objective on the e-commerce giant’s stock, up from their previous price objective of $1,220.00. The analysts noted that the move was a valuation call.

AMZN has been the topic of several other research reports. Stifel Nicolaus reiterated a buy rating and set a $1,100.00 target price on shares of Amazon.com in a report on Tuesday, October 24th. Loop Capital set a $1,200.00 target price on Amazon.com and gave the stock a buy rating in a report on Friday, October 20th. Needham & Company LLC reiterated a buy rating and set a $1,250.00 target price (up previously from $1,150.00) on shares of Amazon.com in a report on Friday, October 27th. Cantor Fitzgerald upped their target price on Amazon.com to $1,360.00 and gave the stock an overweight rating in a report on Friday, October 27th. They noted that the move was a valuation call. Finally, Vetr lowered Amazon.com from a buy rating to a hold rating and set a $1,277.08 target price on the stock. in a report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating, fifty have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $1,278.33.

Shares of Amazon.com (NASDAQ:AMZN) opened at $1,294.58 on Tuesday. Amazon.com has a twelve month low of $803.00 and a twelve month high of $1,339.94. The stock has a market capitalization of $624,430.00, a PE ratio of 326.91, a P/E/G ratio of 7.62 and a beta of 1.46. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.57). Amazon.com had a return on equity of 8.67% and a net margin of 1.20%. The company had revenue of $43.74 billion for the quarter, compared to the consensus estimate of $42.26 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue was up 33.7% on a year-over-year basis. analysts expect that Amazon.com will post 4.24 EPS for the current fiscal year.

In other news, CEO Jeffrey P. Bezos sold 391,110 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $1,103.53, for a total value of $431,601,618.30. Following the completion of the transaction, the chief executive officer now directly owns 79,891,433 shares in the company, valued at approximately $88,162,593,058.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chief Executive Officer of Worldwide Consumer Jeffrey A. Wilke sold 2,800 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $1,160.34, for a total value of $3,248,952.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at $11,603,400. The disclosure for this sale can be found here. Insiders sold a total of 402,338 shares of company stock valued at $444,391,701 over the last quarter. 17.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Leavell Investment Management Inc. raised its position in Amazon.com by 0.3% during the 2nd quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock worth $381,000 after purchasing an additional 1 shares during the last quarter. Probity Advisors Inc. raised its position in Amazon.com by 0.6% during the 2nd quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock worth $310,000 after purchasing an additional 2 shares during the last quarter. Venturi Wealth Management LLC raised its position in Amazon.com by 0.3% during the 2nd quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock worth $612,000 after purchasing an additional 2 shares during the last quarter. Regis Management CO LLC raised its position in Amazon.com by 0.9% during the 2nd quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock worth $224,000 after purchasing an additional 2 shares during the last quarter. Finally, Hall Capital Management Co. Inc. raised its position in Amazon.com by 0.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 403 shares of the e-commerce giant’s stock worth $390,000 after purchasing an additional 3 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.

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Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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