Altura Wealth Advisors Inc. Purchases 1,964 Shares of Amazon.com, Inc. $AMZN

Key Points

• Altura Wealth Advisors increased its Amazon stake 5.9% in the third quarter, buying 1,964 shares to hold 35,461 shares worth about $8.84 million. Amazon represents roughly 2.8% of the firm’s portfolio.
• Amazon’s latest quarterly results fell slightly short of expectations: earnings were $1.89 per share versus $1.97 estimated, while revenue was $201.94 billion versus $202.22 billion expected. Revenue nevertheless grew 12.1% year over year.
• Analysts maintain a Moderate Buy consensus rating and an average price target of $321.74, though several firms recently lowered their targets.

Altura Wealth Advisors Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,461 shares of the e-commerce giant's stock after buying an additional 1,964 shares during the quarter. Amazon.com makes up approximately 2.8% of Altura Wealth Advisors Inc.'s holdings, making the stock its 11th largest holding. Altura Wealth Advisors Inc.'s holdings in Amazon.com were worth $8,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Red Crane Wealth Management LLC increased its stake in Amazon.com by 2.3% during the first quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant's stock worth $346,000 after acquiring an additional 38 shares during the last quarter. Stegent Equity Advisors Inc. lifted its stake in shares of Amazon.com by 2.7% in the 3rd quarter. Stegent Equity Advisors Inc. now owns 1,462 shares of the e-commerce giant's stock valued at $364,000 after purchasing an additional 39 shares in the last quarter. Robinson Smith Wealth Advisors LLC increased its position in Amazon.com by 0.7% during the 1st quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant's stock worth $1,147,000 after purchasing an additional 40 shares in the last quarter. Sfam LLC raised its holdings in Amazon.com by 3.4% in the first quarter. Sfam LLC now owns 1,224 shares of the e-commerce giant's stock valued at $255,000 after buying an additional 40 shares during the period. Finally, Measured Risk Portfolios Inc. raised its holdings in Amazon.com by 3.4% in the first quarter. Measured Risk Portfolios Inc. now owns 1,206 shares of the e-commerce giant's stock valued at $251,000 after buying an additional 40 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

AMZN opened at $259.30 on Monday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.80 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.49. The business's 50 day moving average is $253.96 and its 200-day moving average is $243.57.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $201.94 billion during the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 EPS. On average, analysts predict that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon's CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I'd Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Wall Street Analysts Forecast Growth

Several research firms have commented on AMZN. Scotiabank cut their price objective on Amazon.com from $325.00 to $300.00 and set a "sector outperform" rating on the stock in a research report on Friday, October 30th. Citizens Jmp decreased their target price on Amazon.com from $315.00 to $275.00 and set a "market outperform" rating for the company in a research report on Friday, October 30th. Cantor Fitzgerald lowered their target price on Amazon.com from $310.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, October 30th. Oppenheimer reiterated an "outperform" rating on shares of Amazon.com in a research note on Friday, July 31st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Amazon.com in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $321.74.

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 14,541 shares of Amazon.com stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares of the company's stock, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $10,699,926.30. This represents a 18.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,589 shares of company stock valued at $18,545,595 over the last ninety days. Insiders own 8.90% of the company's stock.

About Amazon.com

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

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