PNC Financial Services Group Inc. Raises Stock Holdings in Amazon.com, Inc. $AMZN

PNC Financial Services Group Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,632,605 shares of the e-commerce giant’s stock after purchasing an additional 38,232 shares during the quarter. Amazon.com comprises 0.9% of PNC Financial Services Group Inc.’s holdings, making the stock its 12th largest holding. PNC Financial Services Group Inc.’s holdings in Amazon.com were worth $1,455,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMZN. Kelleher Financial Advisors lifted its position in Amazon.com by 1.9% during the second quarter. Kelleher Financial Advisors now owns 53,861 shares of the e-commerce giant’s stock valued at $11,817,000 after acquiring an additional 987 shares during the last quarter. Comprehensive Financial Planning Inc. PA increased its position in shares of Amazon.com by 1.8% during the second quarter. Comprehensive Financial Planning Inc. PA now owns 13,211 shares of the e-commerce giant’s stock worth $2,898,000 after purchasing an additional 229 shares in the last quarter. denkapparat Operations GmbH purchased a new stake in shares of Amazon.com during the 2nd quarter valued at $318,000. United Asset Strategies Inc. boosted its position in shares of Amazon.com by 10.1% in the 2nd quarter. United Asset Strategies Inc. now owns 221,057 shares of the e-commerce giant’s stock worth $48,498,000 after purchasing an additional 20,355 shares in the last quarter. Finally, Tobam grew its stake in Amazon.com by 4.9% during the 2nd quarter. Tobam now owns 2,858 shares of the e-commerce giant’s stock worth $627,000 after buying an additional 133 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $226.61, for a total transaction of $280,316.57. Following the completion of the transaction, the director directly owned 26,148 shares in the company, valued at approximately $5,925,398.28. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Brian Alexander sold 900 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the sale, the director owned 7,170 shares in the company, valued at approximately $1,670,610. This represents a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,234 shares of company stock valued at $19,076,767 over the last 90 days. Company insiders own 9.70% of the company’s stock.

Amazon.com Trading Up 0.2%

Shares of Amazon.com stock opened at $229.53 on Friday. The stock has a market cap of $2.45 trillion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The firm has a fifty day moving average price of $228.58 and a 200 day moving average price of $223.81. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $258.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating the consensus estimate of $1.57 by $0.38. The company had revenue of $180.17 billion for the quarter, compared to analyst estimates of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BNP Paribas started coverage on Amazon.com in a research note on Monday, November 24th. They issued an “outperform” rating for the company. Evercore ISI lifted their target price on shares of Amazon.com from $280.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Piper Sandler restated an “overweight” rating on shares of Amazon.com in a research note on Wednesday. DZ Bank reaffirmed a “buy” rating on shares of Amazon.com in a report on Friday, October 31st. Finally, Bank of America lifted their price objective on shares of Amazon.com from $272.00 to $303.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifty-seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $295.93.

About Amazon.com

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.