Cullen Investment Group LTD. Has $13.54 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cullen Investment Group LTD. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 61,700 shares of the e-commerce giant’s stock after purchasing an additional 1,731 shares during the quarter. Amazon.com makes up 2.0% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 10th biggest position. Cullen Investment Group LTD.’s holdings in Amazon.com were worth $13,536,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMZN. PayPay Securities Corp increased its holdings 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 purchasing an additional 64 shares during the period. Hoese & Co LLP bought a new position in shares of Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the third quarter valued at $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after acquiring an additional 199 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Rosenblatt Securities boosted their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wolfe Research boosted their price target on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $249.02.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $234.85 on Friday. The company has a market capitalization of $2.47 trillion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. 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’s fifty day moving average price is $219.63 and its 200 day moving average price is $197.22. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $236.40.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that Amazon.com, Inc. will post 5.39 earnings per share for the current year.

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.