Miller Investment Management LP Purchases 28,351 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Miller Investment Management LP lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 137.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,966 shares of the e-commerce giant’s stock after purchasing an additional 28,351 shares during the period. Amazon.com accounts for approximately 1.0% of Miller Investment Management LP’s investment portfolio, making the stock its 23rd biggest holding. Miller Investment Management LP’s holdings in Amazon.com were worth $9,124,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AMZN. Icon Wealth Advisors LLC increased its stake in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp increased its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the 3rd quarter worth $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter worth $56,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Benchmark raised their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson lifted their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group lifted their price target on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group lifted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Stock Down 1.4 %

AMZN stock opened at $218.94 on Friday. The stock’s 50 day simple moving average is $216.20 and its 200 day simple moving average is $195.41. Amazon.com, Inc. has a fifty-two week low of $149.91 and a fifty-two week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market cap of $2.30 trillion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

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

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate 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.