Wealth Advisory Solutions LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Wealth Advisory Solutions LLC increased its stake in Amazon.com by 21.9%, making it the firm's 8th largest holding, valued at approximately $11.08 million.
• In its latest quarterly earnings, Amazon reported earnings per share (EPS) of $1.68, exceeding estimates and achieving a year-over-year revenue increase of 13.3%.
• Analysts have a consensus rating of "Buy" for Amazon, with target prices ranging from $245 to $305, indicating continued confidence in the company's performance.

Wealth Advisory Solutions LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,222 shares of the e-commerce giant's stock after purchasing an additional 10,448 shares during the period. Amazon.com makes up 2.9% of Wealth Advisory Solutions LLC's portfolio, making the stock its 8th biggest position. Wealth Advisory Solutions LLC's holdings in Amazon.com were worth $11,077,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMZN. Western Wealth Management LLC grew its holdings in Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after buying an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com during the 4th quarter worth $749,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth $514,000. Segall Bryant & Hamill LLC grew its holdings in shares of Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares in the last quarter. Finally, Bearing Point Capital LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth $12,014,000. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMZN. Evercore ISI reduced their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wedbush increased their target price on Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Needham & Company LLC restated a "buy" rating and set a $265.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. Robert W. Baird upped their price objective on Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Pivotal Research upped their price objective on Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of "Buy" and an average target price of $262.45.

Amazon.com Stock Performance

Amazon.com stock traded up $8.44 during mid-day trading on Wednesday, reaching $222.19. 54,656,017 shares of the company's stock were exchanged, compared to its average volume of 45,179,059. The business's fifty day simple moving average is $218.57 and its 200 day simple moving average is $208.96. The firm has a market capitalization of $2.37 trillion, a PE ratio of 33.87, a P/E/G ratio of 1.45 and a beta of 1.31. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 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 analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,102,037 shares of company stock worth $5,674,937,048. Corporate insiders own 10.80% of the company's stock.

About Amazon.com

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.