ABLE Financial Group LLC Buys 1,208 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• ABLE Financial Group LLC has increased its stake in Amazon.com by 5.1%, now owning 24,767 shares valued at approximately $4.71 million.
• Institutional investors own 72.20% of Amazon's stock, with notable increases in holdings from several major firms, including a staggering 21,420.5% increase by GAMMA Investing LLC.
• Amazon recently reported an EPS of $1.59, exceeding analyst expectations, and had a revenue of $155.67 billion for the quarter, reflecting a year-over-year growth of 8.6%.

ABLE Financial Group LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,767 shares of the e-commerce giant's stock after purchasing an additional 1,208 shares during the quarter. Amazon.com makes up approximately 1.3% of ABLE Financial Group LLC's holdings, making the stock its 20th largest position. ABLE Financial Group LLC's holdings in Amazon.com were worth $4,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter worth $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the 4th quarter worth $35,000. Inlight Wealth Management LLC bought a new stake in shares of Amazon.com in the 1st quarter worth $40,000. Finally, Perritt Capital Management Inc raised its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock traded down $1.89 during mid-day trading on Tuesday, reaching $230.90. The stock had a trading volume of 8,528,015 shares, compared to its average volume of 43,771,383. The firm's 50 day simple moving average is $216.19 and its 200 day simple moving average is $208.82. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a market cap of $2.45 trillion, a PE ratio of 37.61, a P/E/G ratio of 1.72 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. On average, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. UBS Group reaffirmed a "buy" rating and set a $271.00 target price (up from $249.00) on shares of Amazon.com in a research report on Monday. Scotiabank boosted their target price on Amazon.com from $250.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Needham & Company LLC upped their price target on Amazon.com from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Evercore ISI dropped their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Rosenblatt Securities upped their price target on Amazon.com from $287.00 to $288.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.21.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 25,102,037 shares of company stock worth $5,674,871,223. 9.70% of the stock is owned by company insiders.

Amazon.com 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.