WMG Financial Advisors LLC Grows Stake in Amazon.com, Inc. (NASDAQ:AMZN)

WMG Financial Advisors LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,228 shares of the e-commerce giant’s stock after purchasing an additional 1,326 shares during the quarter. Amazon.com comprises about 0.7% of WMG Financial Advisors LLC’s investment portfolio, making the stock its 27th biggest position. WMG Financial Advisors LLC’s holdings in Amazon.com were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AMZN. Cooksen Wealth LLC purchased a new position in Amazon.com in the fourth quarter valued at about $30,000. Clarity Asset Management Inc. purchased a new position in Amazon.com in the fourth quarter valued at about $46,000. Christopher J. Hasenberg Inc raised its position in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Steph & Co. purchased a new position in Amazon.com in the first quarter valued at about $65,000. Finally, Advantage Trust Co purchased a new position in Amazon.com in the fourth quarter valued at about $68,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the sale, the senior vice president now owns 59,500 shares of the company’s stock, valued at $11,602,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the sale, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group raised their price objective on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird lifted their target price on Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Wedbush reaffirmed an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Wells Fargo & Company dropped their target price on Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. One research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $222.84.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $193.96 on Wednesday. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.39 and a beta of 1.14. The stock’s 50 day moving average price is $178.59 and its 200 day moving average price is $182.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Equities research analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

About Amazon.com

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.