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Diamond Hill Capital Management Inc, managed by Ric Dillon, recently executed a significant transaction involving Amazon.Com, Inc. ((AMZN)). The hedge fund increased its position by 875,896 shares.
Recent Updates on Amazon.Com, Inc. stock
Recent developments in Amazon.com, Inc. (AMZN) include a mix of positive financial performance and challenges. The company’s Q4 earnings report showed record-breaking figures with a revenue of $187.8 billion, a 10% year-over-year increase, and operating income surging by 61% to $21.2 billion. Significant growth was noted in its AWS and advertising segments, with AWS reaching a $115 billion annualized revenue run rate and advertising revenue climbing by 18% year-over-year. However, the company faced challenges such as foreign exchange headwinds and AWS capacity constraints. Despite these hurdles, analysts have adjusted price targets for Amazon shares, with Deutsche Bank raising its target to $287 and DA Davidson to $280, acknowledging strong earnings and the company’s strategic position in e-commerce, cloud, and advertising. Truist, while lowering its target to $265, maintains a Buy rating, citing compelling valuation and long-term growth potential.
More about Amazon.Com, Inc.
YTD Price Performance: 5.69%
Average Trading Volume: 36,974,963
Current Market Cap: $2470.8B