Precedent Wealth Partners LLC Increases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Precedent Wealth Partners LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,838 shares of the e-commerce giant’s stock after buying an additional 185 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Amazon.com were worth $1,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in Amazon.com by 291.8% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock worth $4,406,000 after purchasing an additional 21,595 shares in the last quarter. Ellenbecker Investment Group increased its position in Amazon.com by 9.7% during the 4th quarter. Ellenbecker Investment Group now owns 7,668 shares of the e-commerce giant’s stock worth $1,165,000 after purchasing an additional 678 shares in the last quarter. Socha Financial Group LLC grew its holdings in 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 period. GAMMA Investing LLC purchased a new stake in Amazon.com in the 4th quarter valued at about $8,334,000. Finally, Cutter & CO Brokerage Inc. grew its holdings in Amazon.com by 0.9% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 23,745 shares of the e-commerce giant’s stock valued at $3,608,000 after buying an additional 216 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $184.52 on Thursday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 51.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The business has a 50 day simple moving average of $179.99 and a 200-day simple moving average of $181.44.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the transaction, the insider now owns 930,696,284 shares in the company, valued at approximately $186,474,307,462.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 in the last three months. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on AMZN shares. Robert W. Baird lifted their price target on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a report on Friday, August 2nd. TD Securities lifted their price target on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Finally, Piper Sandler lowered their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $222.49.

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.