ACT Wealth Management LLC Invests $238,000 in Amazon.com, Inc. (NASDAQ:AMZN)

ACT Wealth Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,321 shares of the e-commerce giant’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently bought and sold shares of AMZN. Sutton Wealth Advisors Inc. increased its holdings in shares of Amazon.com by 8.6% in the third quarter. Sutton Wealth Advisors Inc. now owns 8,827 shares of the e-commerce giant’s stock valued at $1,122,000 after buying an additional 702 shares in the last quarter. Cumberland Partners Ltd raised its position in shares of Amazon.com by 8.6% during the third quarter. Cumberland Partners Ltd now owns 19,351 shares of the e-commerce giant’s stock worth $2,460,000 after purchasing an additional 1,539 shares during the period. Milestone Investment Advisors LLC purchased a new stake in shares of Amazon.com during the third quarter valued at $287,000. PGGM Investments boosted its position in shares of Amazon.com by 126.9% in the 3rd quarter. PGGM Investments now owns 272,549 shares of the e-commerce giant’s stock valued at $34,646,000 after purchasing an additional 152,425 shares during the period. Finally, Torray Investment Partners LLC boosted its position in shares of Amazon.com by 1.8% in the 3rd quarter. Torray Investment Partners LLC now owns 83,729 shares of the e-commerce giant’s stock valued at $10,644,000 after purchasing an additional 1,442 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Up 1.6 %

AMZN stock opened at $189.08 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The company has a 50-day moving average of $182.78 and a two-hundred day moving average of $171.37. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 52.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $191.70.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Raymond James lifted their price objective on shares of Amazon.com from $200.00 to $205.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 1st. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a report on Wednesday, May 1st. Finally, Wedbush reiterated an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $215.37.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,338 shares of company stock valued at $11,894,344. 10.80% of the stock is owned by company insiders.

Amazon.com 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.