McGowan Group Asset Management Inc. Has $3.38 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

McGowan Group Asset Management Inc. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 20.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 983 shares of the e-commerce giant’s stock after acquiring an additional 170 shares during the period. McGowan Group Asset Management Inc.’s holdings in Amazon.com were worth $3,382,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMZN. Laurel Wealth Planning LLC grew its holdings in shares of Amazon.com by 57.1% in the 2nd quarter. Laurel Wealth Planning LLC now owns 22 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 8 shares during the period. Newfound Research LLC grew its holdings in shares of Amazon.com by 62.5% in the 2nd quarter. Newfound Research LLC now owns 26 shares of the e-commerce giant’s stock valued at $89,000 after buying an additional 10 shares during the period. Horan Securities Inc. grew its holdings in shares of Amazon.com by 125.0% in the 2nd quarter. Horan Securities Inc. now owns 27 shares of the e-commerce giant’s stock valued at $92,000 after buying an additional 15 shares during the period. Saban Cheryl bought a new stake in Amazon.com in the 1st quarter valued at $102,000. Finally, regents capital Ltd bought a new stake in Amazon.com in the 1st quarter valued at $105,000. 57.67% of the stock is owned by institutional investors.

In other news, CEO Andrew R. Jassy sold 492 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $3,211.90, for a total transaction of $1,580,254.80. Following the completion of the sale, the chief executive officer now owns 87,327 shares of the company’s stock, valued at approximately $280,485,591.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 222 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $3,283.00, for a total transaction of $728,826.00. Following the sale, the vice president now directly owns 6,211 shares of the company’s stock, valued at approximately $20,390,713. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,463 shares of company stock worth $14,784,642. Company insiders own 14.00% of the company’s stock.

AMZN traded up $18.12 on Wednesday, reaching $3,361.75. The company had a trading volume of 73,028 shares, compared to its average volume of 3,478,658. Amazon.com, Inc. has a fifty-two week low of $2,881.00 and a fifty-two week high of $3,773.08. The stock has a market cap of $1.70 trillion, a P/E ratio of 58.28, a P/E/G ratio of 2.41 and a beta of 1.14. The company’s fifty day moving average is $3,431.54 and its 200 day moving average is $3,347.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.20.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Wednesday, July 28th. The e-commerce giant reported $15.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $12.22 by $2.90. Amazon.com had a net margin of 6.64% and a return on equity of 29.86%. The firm had revenue of $113.08 billion for the quarter, compared to analyst estimates of $115.08 billion. On average, sell-side analysts expect that Amazon.com, Inc. will post 52.18 EPS for the current year.

AMZN has been the topic of several research reports. Credit Suisse Group boosted their price objective on shares of Amazon.com from $4,000.00 to $4,850.00 and gave the company an “outperform” rating in a research report on Monday, July 26th. The Goldman Sachs Group initiated coverage on shares of Amazon.com in a research report on Monday, September 13th. They issued a “buy” rating and a $4,250.00 price objective on the stock. Piper Sandler cut their price objective on shares of Amazon.com from $4,000.00 to $3,904.00 and set an “overweight” rating on the stock in a research report on Friday, July 30th. Raymond James cut their price objective on shares of Amazon.com from $4,125.00 to $3,900.00 and set an “outperform” rating on the stock in a research report on Friday, July 30th. Finally, Wedbush reaffirmed a “buy” rating and issued a $4,300.00 price objective on shares of Amazon.com in a research report on Monday, July 26th. One research analyst has rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4,151.30.

Amazon.com Profile

Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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