Avion Wealth Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Avion Wealth raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,967 shares of the e-commerce giant’s stock after buying an additional 891 shares during the period. Amazon.com makes up approximately 0.4% of Avion Wealth’s holdings, making the stock its 28th largest holding. Avion Wealth’s holdings in Amazon.com were worth $1,528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMZN. Marks Group Wealth Management Inc increased its stake in shares of Amazon.com by 0.5% during the 4th quarter. Marks Group Wealth Management Inc now owns 43,378 shares of the e-commerce giant’s stock worth $9,517,000 after purchasing an additional 211 shares in the last quarter. Davidson Capital Management Inc. increased its stake in shares of Amazon.com by 2.2% during the 4th quarter. Davidson Capital Management Inc. now owns 19,466 shares of the e-commerce giant’s stock worth $4,271,000 after purchasing an additional 425 shares in the last quarter. GEM Asset Management LLC increased its stake in shares of Amazon.com by 2.3% during the 4th quarter. GEM Asset Management LLC now owns 9,607 shares of the e-commerce giant’s stock worth $2,108,000 after purchasing an additional 216 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Amazon.com by 1.1% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 71,435 shares of the e-commerce giant’s stock worth $15,672,000 after purchasing an additional 779 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Amazon.com during the 4th quarter worth approximately $3,329,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMZN shares. Needham & Company LLC reissued a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Phillip Securities cut shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 10th. Royal Bank of Canada raised their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Benchmark raised their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Wolfe Research raised their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $260.65.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock valued at $22,871,828 over the last ninety days. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Down 2.4 %

AMZN opened at $194.54 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $223.57 and its 200-day moving average is $207.12. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 35.18, a P/E/G ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.