Family Legacy Inc. Takes Position in Amazon.com, Inc. $AMZN

Key Points

• Family Legacy Inc. bought 26,000 Amazon shares during the second quarter, valued at approximately $6.2 million. Amazon now represents 1.7% of the firm’s portfolio and is its 18th-largest holding.
• Amazon reported quarterly earnings of $5.75 per share, well above the $1.82 consensus estimate, while revenue rose 19.6% year over year to $200.61 billion.
• Analysts maintain a broadly positive view, with 56 Buy ratings, one Strong Buy and two Holds, producing a “Moderate Buy” consensus and an average price target of $323.26. Meanwhile, insiders sold $18.6 million of stock over the past 90 days.

Family Legacy Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,000 shares of the e-commerce giant's stock, valued at approximately $6,197,000. Amazon.com comprises 1.7% of Family Legacy Inc.'s portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Trust Asset Management LLC grew its holdings in Amazon.com by 3.3% in the 2nd quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant's stock valued at $26,000 after buying an additional 3,414 shares during the period. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after acquiring an additional 79 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the fourth quarter worth approximately $45,000. Elkhorn Partners Limited Partnership boosted its position in shares of Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares during the last quarter. Finally, Fairway Wealth LLC grew its holdings in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 108 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Phillip Securities downgraded shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, August 3rd. Arete Research upped their price objective on Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 target price on shares of Amazon.com in a research report on Friday, July 31st. Truist Financial upped their price target on Amazon.com from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Citizens Jmp restated a "market outperform" rating and issued a $315.00 price objective on shares of Amazon.com in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and a consensus price target of $323.26.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $256.97 on Wednesday. The company has a market capitalization of $2.77 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20. The business has a 50-day moving average of $254.88 and a 200-day moving average of $243.41.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The firm had revenue of $200.61 billion during the quarter, compared to analysts' expectations of $197.03 billion. During the same quarter in the prior year, the business earned $1.68 EPS. Amazon.com's quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,258 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of Amazon.com stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the sale, the chief executive officer directly owned 17,794 shares in the company, valued at $4,609,713.64. This trade represents a 44.97% 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. In the last ninety days, insiders sold 71,589 shares of company stock valued at $18,568,785. Corporate insiders own 8.90% of the company's stock.

Trending Headlines about Amazon.com

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

• Positive Sentiment: AWS expands its custom-chip strategy. Amazon and Qualcomm announced a multi-generation collaboration to develop customized AI data-center silicon, initially focused on AWS inference, along with optical-connectivity solutions of up to 1.6T. The agreement diversifies Amazon’s supply chain beyond Nvidia, Broadcom and its internally developed Trainium chips, while supporting AWS’s long-term AI infrastructure buildout. Qualcomm Announces Multi-Generational Product Collaboration with Amazon
• Positive Sentiment: Profitability remains a key investment argument. Commentary highlighted AWS’s roughly 39% operating margin and recent acceleration in cloud growth as reasons investors may view Amazon’s valuation as attractive, particularly with the stock trading near its 50-day moving average and below its recent high. Amazon’s AWS Operating Margin
• Neutral Sentiment: Amazon is preparing a sterling bond offering. The company has hired banks for its first sterling-denominated bond sale, apparently seeking additional funding sources for major AI and infrastructure investments. The move may improve financing flexibility, but it also underscores the scale of Amazon’s capital requirements. Amazon Hires Banks for First Sterling Bond Sale
• Negative Sentiment: Fatal Prime Air crash increases operational and reputational risk. Federal investigators are examining why a contractor-operated Boeing 767 cargo jet overshot the Miami runway by about 1,300 feet, killing five people. The investigation could bring additional scrutiny to Amazon Air’s contractor oversight, logistics practices and potential liability. Investigators Probe Amazon Cargo Plane Crash
• Negative Sentiment: Employment lawsuit adds legal and regulatory uncertainty. Four former warehouse workers allege Amazon discriminated against pregnant employees by penalizing medically necessary breaks and absences. The class-action complaint could create litigation costs and renewed scrutiny of warehouse labor policies. Amazon Sued for Allegedly Discriminating Against Pregnant Workers

Amazon.com Company Profile

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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