Allen Wealth Management LLC Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Allen Wealth Management LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,170 shares of the e-commerce giant’s stock after purchasing an additional 130 shares during the quarter. Allen Wealth Management LLC’s holdings in Amazon.com were worth $404,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock worth $32,894,000 after buying an additional 43,759 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Amazon.com by 3.3% during the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after buying an additional 1,081 shares during the last quarter. Vancity Investment Management Ltd lifted its position in Amazon.com by 3.6% in the first quarter. Vancity Investment Management Ltd now owns 154,826 shares of the e-commerce giant’s stock valued at $27,927,000 after purchasing an additional 5,431 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Amazon.com by 4.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 518,529 shares of the e-commerce giant’s stock valued at $93,532,000 after purchasing an additional 22,179 shares during the period. Finally, Innova Wealth Partners lifted its position in Amazon.com by 40.4% in the first quarter. Innova Wealth Partners now owns 3,308 shares of the e-commerce giant’s stock valued at $597,000 after purchasing an additional 952 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,030,183 shares of company stock valued at $1,252,883,795 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 0.5 %

Shares of NASDAQ AMZN opened at $225.04 on Wednesday. Amazon.com, Inc. has a 52-week low of $143.64 and a 52-week high of $230.08. The firm has a fifty day moving average of $198.19 and a 200-day moving average of $188.47. The stock has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a P/E/G ratio of 1.52 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 (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) 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 company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the company earned $0.85 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent analyst reports. Redburn Atlantic raised their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna raised their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Scotiabank raised their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.42.

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.