Precedent Wealth Partners LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Precedent Wealth Partners LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,992 shares of the e-commerce giant’s stock after acquiring an additional 154 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Amazon.com were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zhang Financial LLC lifted its holdings in Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after buying an additional 14,766 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Amazon.com by 19.2% during the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after buying an additional 19,231 shares during the period. Stonekeep Investments LLC acquired a new stake in Amazon.com during the second quarter worth approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after acquiring an additional 654,908 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the sale, the insider now directly owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,053,349 shares of company stock worth $1,256,503,289 over the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 0.4 %

NASDAQ:AMZN opened at $201.70 on Tuesday. The stock has a 50-day simple moving average of $191.69 and a 200 day simple moving average of $185.93. Amazon.com, Inc. has a one year low of $141.50 and a one year high of $215.90. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 1.36 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.

Amazon.com (NASDAQ:AMZN) last issued 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. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Sell-side analysts predict that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Loop Capital upped their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, UBS Group upped their price target on shares of Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $235.45.

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.