Global Wealth Management Investment Advisory Inc. Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Global Wealth Management Investment Advisory Inc. increased its holdings in Amazon.com by 9.3%, owning 37,402 shares valued at approximately $7.11 million.
• Recent analyst upgrades have boosted Amazon's price targets, with Citigroup raising it to $265 and Robert W. Baird to $244, contributing to an average target price of $255.52.
• Insider Jeffrey P. Bezos sold over 4.27 million shares for approximately $960.67 million, while insiders collectively sold over 25 million shares in the last 90 days.

Global Wealth Management Investment Advisory Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,402 shares of the e-commerce giant's stock after buying an additional 3,168 shares during the period. Amazon.com accounts for 1.4% of Global Wealth Management Investment Advisory Inc.'s holdings, making the stock its 19th largest holding. Global Wealth Management Investment Advisory Inc.'s holdings in Amazon.com were worth $7,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Amazon.com in the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC increased its stake in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors increased its stake in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. Finally, Capital International Investors increased its stake in Amazon.com by 26.5% in the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548. 9.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMZN shares. Royal Bank Of Canada lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday. Bank of America lifted their price objective on shares of Amazon.com from $265.00 to $272.00 and gave the company a "buy" rating in a report on Friday. Cowen reiterated a "buy" rating on shares of Amazon.com in a report on Friday. Raymond James Financial reiterated an "outperform" rating and set a $195.00 price objective (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Finally, Mizuho reduced their price objective on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, forty-six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and an average price target of $260.85.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $19.36 during trading on Friday, reaching $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The company has a fifty day moving average of $217.93 and a two-hundred day moving average of $209.23. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

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. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast 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.