Aspen Wealth Strategies LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Aspen Wealth Strategies LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,960 shares of the e-commerce giant’s stock after purchasing an additional 62 shares during the period. Amazon.com comprises approximately 0.8% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 18th largest holding. Aspen Wealth Strategies LLC’s holdings in Amazon.com were worth $1,297,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Legal & General Group Plc boosted its position in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Amazon.com by 3.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after buying an additional 1,329,150 shares during the period. International Assets Investment Management LLC raised its stake in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after buying an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Amazon.com by 1.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after buying an additional 464,938 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,030,183 shares of company stock valued at $1,252,883,795 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities increased their price objective on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein upped their target price on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America increased their price target on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer increased their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

AMZN stock opened at $227.03 on Friday. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $143.64 and a 12-month high of $227.15. The company’s fifty day simple moving average is $197.39 and its 200 day simple moving average is $188.12.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.