The Vanguard Group, Inc. recently announced the acquisition of new stake in Amazon.com Inc. (NASDAQ:AMZN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.01% to 30.92 million shares with purchase of 1578.0 shares. This fresh investment now brings its stake to 6.20% valued currently at $97.86 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.75 million to 18.46 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.48% or 77362.0 shares – to 16.34 million shares.
With over 3.98 million Amazon.com Inc. (AMZN) shares trading Tuesday and a closing price of $3346.49 on the day, the dollar volume was approximately $13.32 billion. The shares have shown a positive weekly performance of 1.03% and its price on 08/25/20 gained nearly 1.18%. Currently, there are 500.00M common shares owned by the public and among those 426.04M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 47 analysts who have offered their price forecasts for AMZN have a consensus price objective of $3665.40. The analysts have set the share’s price value over the next 12 months at a high of $4200.00 and a low of $2646.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Amazon.com Inc. stock is 1.80 for the next 12 months. The average price target is 7.82% above its last price level and an upside to the estimated low will see the stock lose -26.47% over that period. But an upside of 20.32% will see the stock hit the forecast high price target while mean target price for the stock is $3700.00.
Insiders at the company have transacted a total of 595 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 115 of these insider trades were purchases, accounting for 68,144 shares. Insider sales of the common stock occurred on 480 occasions, with total insider shares sold totaling 3,203,916 shares.
The top 3 mutual fund holders in Amazon.com Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF. Vanguard Total Stock Market Index owns 12.05 million shares of the company’s stock, all valued at over $38.14 billion. The company sold 34101.0 shares recently to bring their total holdings to about 2.42% of the shares outstanding. Vanguard 500 Index Fund sold 52561.0 shares to see its total holdings shrink to 8.64 million shares valued at over $27.34 billion and representing 1.73% of the shares outstanding. SPDR S&P 500 ETF bought 9072.0 shares to bring its total holdings to over 4.49 million shares at a value of $14.21 billion. SPDR S&P 500 ETF now owns shares totaling to 0.90% of the shares outstanding.
Shares of Amazon.com Inc. (NASDAQ: AMZN) opened at $3,294.99, down -$12.47 from a prior closing price of $3307.46. However, the script later closed the day at $3346.49, up 1.18%. The company’s stock has a 5-day price change of 1.03% and 38.84% over the past three months. AMZN shares are trading 81.10% year to date (YTD), with the 12-month market performance up to 89.19% higher. It has a 12-month low price of $1626.03 and touched a high of $3380.31 over the same period. Currently, 3.98 million shares have been traded, compared to an average intraday trading volume of 4.57 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.49%, 11.08%, and 46.66% respectively.
Institutional ownership of Amazon.com Inc. (NASDAQ: AMZN) shares accounts for 59.40% of the company’s 500.00M shares outstanding. Mutual fund holders own 26.48%, while other institutional holders and individual stakeholders account for 33.06% and 11.65% respectively.
It has a market capitalization of $1682.68B and a beta (3y monthly) value of 1.33. The stock’s trailing 12-month PE ratio is 128.63, while the earnings-per-share (ttm) stands at $26.02. The company has a PEG of 3.57 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.37% over the week and 2.44% over the month.
Analysts forecast that Amazon.com Inc. (AMZN) will achieve an EPS of $7.24 for the current quarter, $8.87 for the next quarter and $44.13 for 2021. The lowest estimate earnings-per-share for the quarter is $4.62 while analysts give the company a high EPS estimate of $12.01. Comparatively, EPS for the current quarter was $4.23 a year ago. Earnings per share for the fiscal year are expected to increase by 15.90%, and 39.66% over the next financial year. EPS should shrink at an annualized rate of 36.03% over the next five years, compared to 115.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 47 brokerage firm advisors rate Amazon.com Inc. (AMZN) as a “Strong Buy” at a consensus score of 1.80. Specifically, 40 Wall Street analysts polled rate the stock as a buy, while 4 of the 47 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the AMZN, a number of firms have released research notes about the stock. Wedbush stated their Outperform rating for the stock in a research note on July 31, 2020, with the firm’s price target at $3500-$3700. UBS coverage for the Amazon.com Inc. (AMZN) stock in a research note released on July 31, 2020 offered a Buy rating with a price target of $4000. Telsey Advisory Group was of a view on July 31, 2020 that the stock is Outperform, while SunTrust gave the stock Buy rating on July 31, 2020, issuing a price target of $3400- $3600. RBC Capital Mkts on their part issued Outperform rating on July 31, 2020.