Austin Wealth Management LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Austin Wealth Management LLC increased its stake in Amazon.com by 15.8% in Q1, owning 14,363 shares worth about $2.68 million after acquiring an additional 1,958 shares.
• Amazon's latest quarterly earnings showed a reported EPS of $1.68, exceeding expectations and signaling a 13.3% revenue growth year-over-year, with total revenue of $167.70 billion.
• Wall Street analysts have raised Amazon's target price, with DA Davidson setting a new target of $265 and a buy rating, indicating strong market confidence in Amazon's growth potential.

Austin Wealth Management LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,363 shares of the e-commerce giant's stock after purchasing an additional 1,958 shares during the period. Austin Wealth Management LLC's holdings in Amazon.com were worth $2,679,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMZN. Western Wealth Management LLC raised its holdings in shares of Amazon.com by 0.9% during 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. bought a new position in Amazon.com during the fourth quarter valued at approximately $749,000. Barnes Dennig Private Wealth Management LLC bought a new position in Amazon.com during the first quarter valued at approximately $514,000. Segall Bryant & Hamill LLC raised its stake 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 worth $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Finally, Bearing Point Capital LLC bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $12,014,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Down 0.2%

Shares of Amazon.com stock traded down $0.44 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 market capitalization of $2.37 trillion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. 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 firm's 50-day moving average is $219.65 and its two-hundred day moving average is $208.98.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) 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 business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the firm posted $1.26 EPS. Amazon.com's revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several analyst reports. DA Davidson increased their target price on Amazon.com from $230.00 to $265.00 and gave the company a "buy" rating in a report on Friday, August 1st. Cantor Fitzgerald boosted their price objective on 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 objective on Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Finally, Wells Fargo & Company upped their price target on shares of Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $262.45.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 25,102,037 shares of company stock valued at $5,674,937,048. 9.70% of the stock is currently 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.