Providence Wealth Advisors LLC Acquires 369 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Providence Wealth Advisors LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,278 shares of the e-commerce giant’s stock after purchasing an additional 369 shares during the period. Amazon.com accounts for 2.2% of Providence Wealth Advisors LLC’s portfolio, making the stock its 12th largest holding. Providence Wealth Advisors LLC’s holdings in Amazon.com were worth $3,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the 3rd quarter worth about $45,000. Christopher J. Hasenberg Inc grew its holdings in Amazon.com by 650.0% during the 2nd 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 last quarter. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter valued at about $56,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

AMZN stock opened at $222.13 on Thursday. 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 fifty-two week low of $148.21 and a fifty-two week high of $233.00. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 47.57, a PEG ratio of 1.54 and a beta of 1.14. The business has a 50 day moving average price of $215.07 and a 200 day moving average price of $194.92.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping 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 quarter last year, the business earned $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America raised their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities lifted their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Loop Capital lifted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $243.67.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Company 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.