Hobbs Wealth Management LLC Buys New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Hobbs Wealth Management LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,175 shares of the e-commerce giant's stock, valued at approximately $697,000. Amazon.com makes up about 0.8% of Hobbs Wealth Management LLC's portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Coign Capital Advisors LLC bought a new position in Amazon.com in the fourth quarter worth about $1,437,000. Heritage Trust Co acquired a new position in Amazon.com in the fourth quarter worth approximately $11,050,000. Seneschal Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at $5,536,000. Tandem Wealth Advisors LLC raised its holdings in shares of Amazon.com by 4.5% during the fourth quarter. Tandem Wealth Advisors LLC now owns 5,846 shares of the e-commerce giant's stock valued at $1,283,000 after acquiring an additional 253 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its position in shares of Amazon.com by 3.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 150,546 shares of the e-commerce giant's stock worth $33,028,000 after buying an additional 5,244 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Canaccord Genuity Group restated a "buy" rating on shares of Amazon.com in a report on Thursday, February 13th. Wedbush reiterated an "outperform" rating and set a $235.00 target price (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $212.00 price objective (down previously from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Westpark Capital restated a "buy" rating and set a $280.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Citizens Jmp cut their price objective on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.09.

Amazon.com Price Performance

NASDAQ:AMZN opened at $192.08 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The stock has a market capitalization of $2.04 trillion, a PE ratio of 34.73, a P/E/G ratio of 1.50 and a beta of 1.30. The firm has a fifty day simple moving average of $188.71 and a 200 day simple moving average of $207.77. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. On average, research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares of the company's stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,298 shares of company stock worth $23,818,478. Corporate insiders own 9.70% of the company's stock.

Amazon.com Company Profile

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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