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N.E.W. Advisory Services LLC Grows Stock Position in Amazon.com, Inc. $AMZN

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Key Points

  • N.E.W. Advisory Services LLC increased its Amazon stake by 21.2% in the fourth quarter, adding 4,611 shares and bringing its total holding to 26,372 shares valued at about $6.09 million.
  • Wall Street remains bullish on Amazon, with multiple analysts raising price targets and the consensus rating staying at “Moderate Buy” with an average target price of $312.52.
  • Amazon recently beat earnings expectations, reporting $2.78 EPS on $181.52 billion in revenue, while investors also noted continued strength in AWS/cloud growth and AI-related initiatives.
  • MarketBeat previews the top five stocks to own by June 1st.

N.E.W. Advisory Services LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,372 shares of the e-commerce giant's stock after purchasing an additional 4,611 shares during the quarter. N.E.W. Advisory Services LLC's holdings in Amazon.com were worth $6,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. LifeSteps Financial Inc. increased its position in shares of Amazon.com by 4.6% during the 4th quarter. LifeSteps Financial Inc. now owns 10,315 shares of the e-commerce giant's stock valued at $2,381,000 after purchasing an additional 452 shares during the last quarter. Cape ANN Savings Bank increased its position in shares of Amazon.com by 0.5% during the 4th quarter. Cape ANN Savings Bank now owns 17,429 shares of the e-commerce giant's stock valued at $4,023,000 after purchasing an additional 80 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Amazon.com by 0.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 107,925 shares of the e-commerce giant's stock valued at $24,911,000 after purchasing an additional 960 shares during the last quarter. Fischer Investment Strategies LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $237,000. Finally, Arkansas Financial Group Inc. increased its position in shares of Amazon.com by 2.6% during the 4th quarter. Arkansas Financial Group Inc. now owns 2,573 shares of the e-commerce giant's stock valued at $594,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

AMZN has been the subject of several research reports. Tigress Financial upped their price target on shares of Amazon.com from $305.00 to $315.00 and gave the company a "buy" rating in a research report on Wednesday, March 25th. China Renaissance upped their price target on shares of Amazon.com from $300.00 to $326.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wedbush reduced their price target on shares of Amazon.com from $340.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. KeyCorp increased their target price on shares of Amazon.com from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Monness Crespi & Hardt increased their target price on shares of Amazon.com from $280.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of "Moderate Buy" and a consensus target price of $312.52.

Get Our Latest Research Report on AMZN

Amazon.com News Roundup

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

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 3,706 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the sale, the director directly owned 74,948 shares in the company, valued at $20,462,302.96. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the sale, the chief executive officer owned 471,361 shares of the company's stock, valued at approximately $129,624,275. This represents a 5.51% decrease in their ownership of the stock. 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 190,593 shares of company stock valued at $46,081,241 in the last three months. Corporate insiders own 8.90% of the company's stock.

Amazon.com Stock Down 1.2%

NASDAQ AMZN opened at $264.14 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The company has a market capitalization of $2.84 trillion, a P/E ratio of 31.60, a P/E/G ratio of 2.00 and a beta of 1.46. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The stock has a 50 day moving average price of $234.47 and a 200-day moving average price of $230.67.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Amazon.com Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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