Granite Bay Wealth Management LLC Purchases 782 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Granite Bay Wealth Management LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,202 shares of the e-commerce giant’s stock after acquiring an additional 782 shares during the period. Amazon.com comprises about 3.5% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Granite Bay Wealth Management LLC’s holdings in Amazon.com were worth $9,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Heritage Family Offices LLP acquired a new position in Amazon.com in the second quarter worth about $206,000. Abacus Planning Group Inc. grew its position in shares of Amazon.com by 0.7% in the 2nd quarter. Abacus Planning Group Inc. now owns 129,352 shares of the e-commerce giant’s stock worth $24,997,000 after acquiring an additional 910 shares in the last quarter. Sabal Trust CO increased its holdings in shares of Amazon.com by 3.0% in the 2nd quarter. Sabal Trust CO now owns 38,011 shares of the e-commerce giant’s stock valued at $7,346,000 after acquiring an additional 1,106 shares during the last quarter. Cadinha & Co. LLC raised its position in shares of Amazon.com by 726.5% during the 2nd quarter. Cadinha & Co. LLC now owns 81,368 shares of the e-commerce giant’s stock valued at $15,724,000 after acquiring an additional 71,523 shares in the last quarter. Finally, United Capital Management of KS Inc. lifted its stake in Amazon.com by 1.6% during the second quarter. United Capital Management of KS Inc. now owns 86,517 shares of the e-commerce giant’s stock worth $16,719,000 after purchasing an additional 1,388 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMZN shares. Tigress Financial boosted their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company upped their target price on Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a report on Friday, January 10th. Loop Capital upped their price objective on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, DA Davidson reiterated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.02.

Amazon.com Trading Down 0.2 %

Shares of AMZN opened at $234.85 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $236.40. The company has a market cap of $2.47 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a fifty day moving average price of $219.63 and a two-hundred day moving average price of $197.22.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 analysts’ expectations of $157.28 billion. During the same quarter last year, the company posted $0.85 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction 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 sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate 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.