Brown Shipley& Co Ltd Bolsters Portfolio with Amazon Investment

Brown Shipley& Co Ltd recently disclosed a significant move in its 13F filing with the Securities & Exchange Commission. The company acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 123,720 shares valued at approximately $15,161,000 during the 2nd quarter.

This strategic investment positions Amazon.com as the 3rd biggest holding, constituting around 7.3% of Brown Shipley& Co Ltd’s investment portfolio.

Other Institutional Moves

Notably, other large investors have also adjusted their positions in Amazon.com. Leonard Rickey Investment Advisors increased its stake by 2.5%, owning 11,645 shares. ANTIPODES PARTNERS Ltd entered the scene with a substantial investment of approximately $123,733,000.

King Wealth and Meitav Investment House Ltd. also made strategic adjustments, showcasing the confidence institutional investors have in Amazon’s future prospects.

Amazon.com Stock Performance

Amazon.com's shares (NASDAQ: AMZN) experienced a 1.0% decrease, opening at $145.89 on Tuesday. Despite this, the stock's performance over the fifty-two week range has been impressive, reaching a low of $81.43 and a high of $149.26.

The company boasts a market cap of $1.51 trillion, with a price-to-earnings ratio of 75.59 and a beta of 1.17.

Earnings and Projections

In its latest earnings report on October 26th, Amazon.com exceeded analysts’ expectations, reporting $0.85 per share per quarter. The company generated $143.08 billion in revenue, surpassing estimates.

Analysts forecast a growth trajectory for Amazon.com, with a consensus expectation of 2.61 earnings per share for the current year.

Wall Street Analysts' Perspectives

Various Wall Street analysts have expressed bullish sentiments towards Amazon.com. Needham & Company LLC reiterated a “buy” rating, setting a target price of $160.00. UBS Group, HSBC, Oppenheimer, and Mizuho have also provided optimistic outlooks, with a consensus rating of “Moderate Buy” and an average target price of $169.88.

Insider Trading Insights

In recent insider trading activity, SVP David Zapolsky sold 42,816 shares at an average price of $145.13. CEO Adam Selipsky and other insiders also made strategic moves, reflecting confidence in the company's future performance.

About Amazon.com, Inc.

Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions through online and physical stores. Operating through segments including North America, International, and Amazon Web Services (AWS), the company continues to be a dominant force in e-commerce and cloud services.

For more details on the financial landscape and strategic moves within the tech industry, visit: DefenseWorld.net