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

IAG Wealth Partners LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,730 shares of the e-commerce giant’s stock after buying an additional 300 shares during the quarter. IAG Wealth Partners LLC’s holdings in Amazon.com were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. International Assets Investment Management LLC lifted its position in Amazon.com by 20,897.2% during the third 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 in the last quarter. Swedbank AB purchased a new stake in Amazon.com in the first quarter valued at $2,239,757,000. Strategic Financial Concepts LLC raised its position in Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after purchasing an additional 3,903,889 shares during the period. Wulff Hansen & CO. raised its holdings in shares of Amazon.com by 20,517.4% in the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock valued at $750,646,000 after buying an additional 3,865,485 shares during the period. Finally, Granite Bay Wealth Management LLC raised its holdings in shares of Amazon.com by 6,590.8% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock valued at $432,394,000 after buying an additional 2,318,713 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 0.5 %

Shares of AMZN opened at $225.04 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 48.19, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The stock’s fifty day simple moving average is $198.19 and its 200 day simple moving average is $188.47. Amazon.com, Inc. has a twelve month low of $143.64 and a twelve month high of $230.08.

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

Analyst Upgrades and Downgrades

AMZN has been the subject of several analyst reports. Scotiabank boosted their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark upped their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Rosenblatt Securities upped their target price on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $237.42.

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the firm’s 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 sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,030,183 shares of company stock valued at $1,252,883,795 over the last three months. 10.80% of the stock is owned by company insiders.

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.