LMG Wealth Partners LLC Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

LMG Wealth Partners LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 39,797 shares of the e-commerce giant’s stock after acquiring an additional 264 shares during the quarter. Amazon.com makes up 1.7% of LMG Wealth Partners LLC’s holdings, making the stock its 16th largest holding. LMG Wealth Partners LLC’s holdings in Amazon.com were worth $7,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Brighton Jones LLC raised its holdings in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after purchasing an additional 397,007 shares during the period. Revolve Wealth Partners LLC raised its holdings in Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after purchasing an additional 986 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after purchasing an additional 54,987 shares during the period. Highview Capital Management LLC DE raised its holdings in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after purchasing an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new position in Amazon.com in the 4th quarter worth $2,153,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler raised their price target on Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Benchmark reissued a “buy” rating and set a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. BNP Paribas raised Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Finally, Tigress Financial raised their price target on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $262.45.

Amazon.com Stock Performance

Shares of AMZN stock opened at $224.66 on Thursday. The business’s fifty day simple moving average is $220.60 and its 200-day simple moving average is $208.72. The company has a market cap of $2.40 trillion, a PE ratio of 34.25, a PEG ratio of 1.49 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. Analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 25,096,253 shares of company stock worth $5,673,745,409 over the last 90 days. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Company Profile

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.