Meyer Handelman Co. Purchases 31,489 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Meyer Handelman Co. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,900 shares of the e-commerce giant’s stock after purchasing an additional 31,489 shares during the quarter. Amazon.com comprises 2.0% of Meyer Handelman Co.’s investment portfolio, making the stock its 8th biggest position. Meyer Handelman Co.’s holdings in Amazon.com were worth $57,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. ShoreHaven Wealth Partners LLC increased its position in shares of Amazon.com by 1.9% in the 4th quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock valued at $491,000 after purchasing an additional 60 shares during the last quarter. O Dell Group LLC grew its position in shares of Amazon.com by 0.5% in the 4th quarter. O Dell Group LLC now owns 13,581 shares of the e-commerce giant’s stock valued at $2,064,000 after buying an additional 61 shares during the last quarter. Measured Wealth Private Client Group LLC grew its position in shares of Amazon.com by 2.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 2,562 shares of the e-commerce giant’s stock valued at $389,000 after buying an additional 62 shares during the last quarter. Ballew Advisors Inc grew its position in shares of Amazon.com by 1.5% in the 1st quarter. Ballew Advisors Inc now owns 4,248 shares of the e-commerce giant’s stock valued at $790,000 after buying an additional 62 shares during the last quarter. Finally, Socha Financial Group LLC grew its position in shares of Amazon.com by 3.3% in the 4th quarter. Socha Financial Group LLC now owns 1,991 shares of the e-commerce giant’s stock valued at $303,000 after buying an additional 63 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $185.57 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $182.82 and a two-hundred day moving average price of $172.00. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $191.70. The company has a market capitalization of $1.93 trillion, a P/E ratio of 51.98, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14.

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

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock worth $11,894,344 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Citigroup increased their target price on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their price target on shares of Amazon.com from $215.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $215.37.

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.