Beirne Wealth Consulting Services LLC Has $1.93 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Beirne Wealth Consulting Services LLC increased its holdings in Amazon.com, Inc. by 19.7% during Q1, now owning a total of 10,143 shares valued at $1.93 million.
• Research firms have raised their price targets for Amazon.com, with the consensus price target now at $262.45 and a majority of analysts rating the stock as a "Buy."
• Insider trading revealed that Jeffrey P. Bezos sold over 2.64 million shares valued at approximately $609 million, reducing his ownership by 0.30%.

Beirne Wealth Consulting Services LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,143 shares of the e-commerce giant's stock after acquiring an additional 1,667 shares during the period. Amazon.com makes up 0.7% of Beirne Wealth Consulting Services LLC's portfolio, making the stock its 29th biggest holding. Beirne Wealth Consulting Services LLC's holdings in Amazon.com were worth $1,930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Western Wealth Management LLC increased its stake in Amazon.com by 0.9% during the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after acquiring an additional 1,297 shares during the period. Momentous Wealth Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $514,000. Segall Bryant & Hamill LLC increased its position in shares of Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after purchasing an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $12,014,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on AMZN. Cantor Fitzgerald lifted their price target on shares of Amazon.com from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Telsey Advisory Group raised their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus lifted their target price on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Piper Sandler upped their target price on shares of Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Down 0.2%

NASDAQ AMZN traded down $0.44 during trading hours on Friday, reaching $222.69. 32,911,537 shares of the company's stock were exchanged, compared to its average volume of 47,624,592. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The company's 50-day moving average is $219.65 and its two-hundred day moving average is $208.98. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer directly owned 512,050 shares of the company's stock, valued at $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,937,048 over the last ninety days. 9.70% of the stock is currently owned by insiders.

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.