Mitchell Mcleod Pugh & Williams Inc. Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Mitchell Mcleod Pugh & Williams Inc. has increased its stake in Amazon.com, Inc. by 3.8%, now holding a total of 34,586 shares valued at approximately $6.58 million.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon stock for nearly $961 million, which has resulted in a 0.47% decrease in his ownership.
• Brokerages, including Citigroup and Wells Fargo, have recently raised their price targets for Amazon.com, with a consensus rating of "Buy" and a price target averaging around $262.45.

Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 34,586 shares of the e-commerce giant's stock after buying an additional 1,257 shares during the period. Amazon.com comprises approximately 1.4% of Mitchell Mcleod Pugh & Williams Inc.'s holdings, making the stock its 12th biggest position. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Amazon.com were worth $6,580,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. lifted its stake in Amazon.com by 36.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 43,971 shares of the e-commerce giant's stock valued at $8,366,000 after acquiring an additional 11,776 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in Amazon.com by 80.5% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 54,488 shares of the e-commerce giant's stock valued at $10,367,000 after buying an additional 24,294 shares during the period. Parker Investment Management LLC increased its holdings in Amazon.com by 15.6% in the 1st quarter. Parker Investment Management LLC now owns 2,657 shares of the e-commerce giant's stock valued at $506,000 after buying an additional 359 shares during the period. Florida Financial Advisors LLC grew its holdings in shares of Amazon.com by 51.5% in the 1st quarter. Florida Financial Advisors LLC now owns 15,470 shares of the e-commerce giant's stock worth $2,939,000 after purchasing an additional 5,262 shares during the last quarter. Finally, Gould Asset Management LLC CA grew its holdings in shares of Amazon.com by 11.4% in the 1st quarter. Gould Asset Management LLC CA now owns 4,600 shares of the e-commerce giant's stock worth $875,000 after purchasing an additional 469 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Tigress Financial increased their price target on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their price target on shares of Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus increased their price target 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. Finally, JMP Securities reissued a "market outperform" rating and set a $285.00 target price on shares of Amazon.com in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of "Buy" and a consensus target price of $262.87.

Amazon.com Trading Up 2.8%

Shares of NASDAQ:AMZN traded up $6.39 during trading on Thursday, reaching $230.95. 30,900,626 shares of the company traded hands, compared to its average volume of 44,761,211. The business's fifty day moving average is $220.60 and its 200-day moving average is $208.72. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 1.49 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

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

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction 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 sale, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 25,096,253 shares of company stock worth $5,673,745,409 in the last ninety days. 9.70% of the stock is owned by company insiders.

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.