LeConte Wealth Management LLC Grows Position in Amazon.com, Inc. $AMZN

Key Points

• LeConte Wealth Management LLC increased its stake in Amazon.com, Inc. by 42.8% during Q2, owning a total of 7,586 shares valued at approximately $1.66 million.
• Several other institutional investors, including Floyd Financial Group and Palumbo Wealth Management, also raised their holdings in Amazon during the same quarter, indicating growing confidence in the stock.
• Amazon reported strong Q2 results with an EPS of $1.68, exceeding estimates, and a revenue of $167.70 billion, showcasing a 13.3% year-over-year growth.

LeConte Wealth Management LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 42.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,586 shares of the e-commerce giant's stock after purchasing an additional 2,275 shares during the quarter. Amazon.com comprises approximately 1.1% of LeConte Wealth Management LLC's portfolio, making the stock its 16th biggest holding. LeConte Wealth Management LLC's holdings in Amazon.com were worth $1,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Floyd Financial Group LLC lifted its stake in shares of Amazon.com by 0.8% during the 2nd quarter. Floyd Financial Group LLC now owns 21,593 shares of the e-commerce giant's stock valued at $4,824,000 after buying an additional 178 shares in the last quarter. Oxinas Partners Wealth Management LLC raised its holdings in Amazon.com by 6.7% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 31,707 shares of the e-commerce giant's stock valued at $6,956,000 after acquiring an additional 1,995 shares during the period. Avaii Wealth Management LLC lifted its position in shares of Amazon.com by 6.8% during the second quarter. Avaii Wealth Management LLC now owns 35,318 shares of the e-commerce giant's stock worth $7,748,000 after acquiring an additional 2,249 shares in the last quarter. Palumbo Wealth Management LLC grew its position in shares of Amazon.com by 31.1% in the second quarter. Palumbo Wealth Management LLC now owns 46,647 shares of the e-commerce giant's stock valued at $10,234,000 after purchasing an additional 11,077 shares in the last quarter. Finally, McAdam LLC boosted its stake in Amazon.com by 11.1% in the 2nd quarter. McAdam LLC now owns 30,140 shares of the e-commerce giant's stock worth $6,612,000 after purchasing an additional 3,023 shares during the period. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Down 1.3%

Shares of NASDAQ AMZN opened at $219.51 on Monday. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a 50-day moving average of $226.55 and a 200 day moving average of $211.24. The stock has a market cap of $2.34 trillion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.28.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its 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. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share. Amazon.com has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $221.58, for a total transaction of $4,403,237.76. Following the sale, the chief executive officer directly owned 2,178,502 shares in the company, valued at approximately $482,712,473.16. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 18,798,540 shares of company stock worth $4,273,477,287. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. Canaccord Genuity Group reissued a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Amazon.com in a report on Saturday, September 27th. Barclays raised their price target on shares of Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Pivotal Research upped their price target on shares of Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Zacks Research downgraded Amazon.com from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $266.26.

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.

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