Balanced Wealth Group LLC Takes $567,000 Position in Amazon.com, Inc. $AMZN

Balanced Wealth Group LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,378 shares of the e-commerce giant's stock, valued at approximately $567,000. Amazon.com comprises 0.2% of Balanced Wealth Group LLC's investment portfolio, making the stock its 27th largest holding.

Several other hedge funds have also recently modified their holdings of the business. Avaii Wealth Management LLC purchased a new stake in Amazon.com in the 2nd quarter worth approximately $1,780,000. Compass Wealth Management LLC acquired a new position in Amazon.com during the second quarter worth $1,586,000. Vista Cima Wealth Management LLC purchased a new position in Amazon.com in the 2nd quarter valued at about $1,585,000. Pacific Sun Financial Corp purchased a new position in Amazon.com in the 2nd quarter valued at about $2,034,000. Finally, Stevens Capital Partners purchased a new stake in shares of Amazon.com during the second quarter worth approximately $3,181,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $253.54 on Tuesday. The stock's 50-day moving average is $255.75 and its two-hundred day moving average is $244.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $287.20. The firm has a market cap of $2.73 trillion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.98 and a beta of 1.44.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. During the same period in the previous year, the business posted $1.68 earnings per share. Amazon.com's quarterly revenue was up 19.6% on a year-over-year basis. Analysts predict that Amazon.com, Inc. will post 8.05 earnings per share for the current year.

Key Amazon.com News

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 14,541 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares in the company, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Jassy sold 20,000 shares of Amazon.com stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the completion of the sale, the chief executive officer directly owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. The trade was a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,589 shares of company stock worth $18,568,785 in the last 90 days. Corporate insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMZN shares. KeyCorp raised their price objective on Amazon.com from $335.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Raymond James Financial reaffirmed an "outperform" rating and issued a $390.00 price target (up from $280.00) on shares of Amazon.com in a report on Friday, July 31st. Arete Research lifted their price objective on Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $330.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, HSBC restated a "buy" rating and set a $310.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $323.26.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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