Morey & Quinn Wealth Partners LLC Acquires New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Morey & Quinn Wealth Partners LLC purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,706 shares of the e-commerce giant's stock, valued at approximately $2,568,000. Amazon.com makes up about 2.2% of Morey & Quinn Wealth Partners LLC's holdings, making the stock its 10th largest position.

Several other large investors also recently bought and sold shares of AMZN. Accordant Advisory Group Inc increased its stake in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Icon Wealth Advisors LLC increased its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after acquiring an additional 25,581 shares during the last quarter. Quattro Financial Advisors LLC raised its holdings in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Amazon.com in the 4th quarter valued at about $51,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Amazon.com during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMZN. Royal Bank of Canada boosted their target price on Amazon.com from $255.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Scotiabank decreased their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group cut their price target on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Piper Sandler reissued an "overweight" rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Finally, UBS Group dropped their target price on shares of Amazon.com from $272.00 to $253.00 and set a "buy" rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $246.50.

Amazon.com Stock Down 1.6 %

Shares of Amazon.com stock traded down $2.97 on Wednesday, hitting $184.42. 54,401,626 shares of the company's stock traded hands, compared to its average volume of 41,672,387. The firm's 50-day moving average is $191.39 and its 200 day moving average is $207.74. The stock has a market cap of $1.96 trillion, a P/E ratio of 33.35, a PEG ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.