BlueChip Wealth Advisors LLC Invests $846,000 in Amazon.com, Inc. (NASDAQ:AMZN)

BlueChip Wealth Advisors LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,570 shares of the e-commerce giant’s stock, valued at approximately $846,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Metis Global Partners LLC boosted its holdings in Amazon.com by 17.3% during the 3rd quarter. Metis Global Partners LLC now owns 433,892 shares of the e-commerce giant’s stock valued at $55,156,000 after acquiring an additional 64,019 shares during the period. Acorn Wealth Advisors LLC grew its holdings in shares of Amazon.com by 3.9% in the third quarter. Acorn Wealth Advisors LLC now owns 5,522 shares of the e-commerce giant’s stock valued at $702,000 after purchasing an additional 208 shares in the last quarter. Clearstead Advisors LLC increased its stake in Amazon.com by 37.6% during the 3rd quarter. Clearstead Advisors LLC now owns 135,448 shares of the e-commerce giant’s stock worth $17,218,000 after buying an additional 37,019 shares during the period. LCM Capital Management Inc lifted its holdings in Amazon.com by 4.4% during the 3rd quarter. LCM Capital Management Inc now owns 18,569 shares of the e-commerce giant’s stock worth $2,360,000 after buying an additional 777 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in Amazon.com by 2.7% in the 3rd quarter. Financial Counselors Inc. now owns 895,084 shares of the e-commerce giant’s stock valued at $113,783,000 after buying an additional 23,596 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 0.2 %

NASDAQ:AMZN opened at $184.06 on Tuesday. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $191.70. The company has a market capitalization of $1.92 trillion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $182.90 and a 200-day simple moving average of $170.62.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. Amazon.com’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jonathan Rubinstein sold 5,264 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the transaction, the director now directly owns 104,400 shares in the company, valued at $19,836,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,838 shares of company stock worth $11,984,344. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent research reports. Roth Mkm reiterated a “buy” rating and issued a $210.00 target price (up from $205.00) on shares of Amazon.com in a report on Wednesday, May 1st. Barclays lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. UBS Group upped their target price on shares of Amazon.com from $215.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their price target on shares of Amazon.com from $217.00 to $234.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Truist Financial increased their price objective on shares of Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $213.82.

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.