Amazon.com, Inc. (NASDAQ:AMZN) is Diversify Wealth Management LLC's 8th Largest Position

Key Points

• Diversify Wealth Management LLC increased its stake in Amazon.com by 4.7% in Q1, holding 103,116 shares, making Amazon its 8th largest position.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon stock, valued at approximately $609 million, reducing his ownership by 0.30%.
• Amazon reported strong quarterly earnings with a stated EPS of $1.68, exceeding estimates, and total revenue reaching $167.70 billion, a 13.3% increase year-over-year.

Diversify Wealth Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,116 shares of the e-commerce giant's stock after purchasing an additional 4,597 shares during the period. Amazon.com accounts for about 1.4% of Diversify Wealth Management LLC's investment portfolio, making the stock its 8th biggest holding. Diversify Wealth Management LLC's holdings in Amazon.com were worth $19,323,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Northern Capital Management Inc. increased its holdings in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after acquiring an additional 45 shares during the last quarter. Balanced Wealth Group LLC boosted its position in Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after purchasing an additional 48 shares during the period. ETF Store Inc. increased its holdings in shares of Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after purchasing an additional 48 shares during the last quarter. Talisman Wealth Advisors LLC raised its position in shares of Amazon.com by 1.2% in the fourth quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant's stock valued at $1,020,000 after purchasing an additional 53 shares during the period. Finally, SWAN Capital LLC lifted its stake in shares of Amazon.com by 3.1% during the 4th quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant's stock worth $396,000 after buying an additional 55 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

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 stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,102,037 shares of company stock valued at $5,674,937,048. Corporate insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of AMZN traded down $0.44 during trading hours on Friday, hitting $222.69. 32,911,537 shares of the stock were exchanged, compared to its average volume of 47,624,592. The stock's 50-day moving average price is $219.65 and its two-hundred day moving average price is $208.98. 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 company has a market cap of $2.37 trillion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMZN. Cowen reiterated a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Piper Sandler upped their target price on Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Jefferies Financial Group lifted their price target on Amazon.com from $255.00 to $265.00 in a report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price target on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Buy" and a consensus price target of $262.45.

About Amazon.com

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.