Avidian Wealth Enterprises LLC Has $19.32 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Avidian Wealth Enterprises LLC increased its Amazon position by 4.0% in the fourth quarter, buying 3,209 additional shares to bring its total to 83,709 shares worth about $19.32 million.
• Amazon continues to post strong operating results, with the latest quarterly revenue rising 16.6% year over year to $181.52 billion and earnings of $2.78 per share, beating analyst estimates.
• Wall Street sentiment remains bullish, with several firms raising price targets and Amazon receiving an average Moderate Buy rating and a consensus target of $312.66.

Avidian Wealth Enterprises LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,709 shares of the e-commerce giant's stock after purchasing an additional 3,209 shares during the quarter. Amazon.com comprises 0.7% of Avidian Wealth Enterprises LLC's portfolio, making the stock its 28th biggest holding. Avidian Wealth Enterprises LLC's holdings in Amazon.com were worth $19,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC grew its position in shares of Amazon.com by 113.2% in the third quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock valued at $25,000 after purchasing an additional 60 shares during the last quarter. Sellwood Investment Partners LLC bought a new stake in shares of Amazon.com in the third quarter valued at about $27,000. Bridge Generations Wealth Management LLC lifted its stake in shares of Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock valued at $53,000 after buying an additional 233 shares during the period. Cooksen Wealth LLC lifted its stake in shares of Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock valued at $54,000 after buying an additional 47 shares during the period. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Amazon.com by 2.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 309,697 shares of the e-commerce giant's stock valued at $71,000 after buying an additional 7,329 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Amazon.com Stock Performance

AMZN stock opened at $265.29 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company has a 50 day moving average price of $241.79 and a 200 day moving average price of $231.93. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The stock has a market capitalization of $2.85 trillion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. During the same quarter in the previous year, the company posted $1.59 EPS. Amazon.com's revenue was up 16.6% on a year-over-year basis. Analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the transaction, the chief executive officer owned 471,361 shares in the company, valued at $129,624,275. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares of the company's stock, valued at $11,060,750.70. This trade represents a 18.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 195,774 shares of company stock worth $51,552,494. Company insiders own 8.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMZN shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Oppenheimer increased their target price on shares of Amazon.com from $275.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. BMO Capital Markets increased their target price on shares of Amazon.com from $310.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. New Street Research increased their target price on shares of Amazon.com from $280.00 to $350.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Rosenblatt Securities increased their target price on shares of Amazon.com from $296.00 to $332.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $312.66.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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