Synovus Financial Corp reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 406,242 shares of the e-commerce giant's stock after selling 5,006 shares during the quarter. Amazon.com accounts for about 0.9% of Synovus Financial Corp's investment portfolio, making the stock its 19th largest position. Synovus Financial Corp's holdings in Amazon.com were worth $75,695,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Icon Wealth Advisors LLC grew its position in Amazon.com by 20.5% in the third 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 in the last quarter. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% during the second 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 last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the 3rd quarter valued at about $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 72.20% of the company's stock.
Shares of AMZN stock opened at $225.94 on Friday. 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 capitalization of $2.38 trillion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $233.00. The company's 50-day moving average is $217.56 and its 200 day moving average is $196.10.
Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.38 EPS for the current fiscal year.
In other news, CEO Matthew S. Garman sold 15,260 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company's stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.
AMZN has been the topic of a number of recent research reports. Telsey Advisory Group increased their price target on shares of Amazon.com from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Tigress Financial raised their price objective on Amazon.com from $245.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Jefferies Financial Group lifted their price objective on Amazon.com from $235.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Finally, Sanford C. Bernstein raised their price target on Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $245.65.
Read Our Latest Stock Report on 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.
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