PNC Financial Services Group Inc. Has $1.22 Billion Position in Amazon.com, Inc. (NASDAQ:AMZN)

PNC Financial Services Group Inc. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,539,068 shares of the e-commerce giant’s stock after purchasing an additional 99,004 shares during the quarter. Amazon.com accounts for about 0.8% of PNC Financial Services Group Inc.’s portfolio, making the stock its 18th largest position. PNC Financial Services Group Inc.’s holdings in Amazon.com were worth $1,218,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMZN. Semus Wealth Partners LLC grew its position in Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares in the last quarter. Meridian Investment Counsel Inc. boosted its stake in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares during the last quarter. O Connor Financial Group LLC grew its position in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC increased its stake in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC increased its holdings in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after acquiring an additional 56 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AMZN. Susquehanna increased their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Wedbush raised their price target on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. UBS Group lifted their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Mizuho boosted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Trading Down 1.1 %

Shares of NASDAQ:AMZN opened at $221.30 on Tuesday. The company has a market cap of $2.33 trillion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $209.73 and a 200 day moving average of $192.89. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now directly owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Insiders own 10.80% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.