Altus Wealth Management LLC Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Altus Wealth Management LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,414 shares of the e-commerce giant’s stock after buying an additional 100 shares during the period. Amazon.com comprises approximately 0.3% of Altus Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Altus Wealth Management LLC’s holdings in Amazon.com were worth $616,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares in the last quarter. Strid Group LLC acquired a new stake in Amazon.com in the 4th quarter worth about $43,000. Harbor Investment Advisory LLC increased its stake in Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 1,988 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMZN shares. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Barclays upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. DA Davidson reiterated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, April 18th. Loop Capital boosted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, BMO Capital Markets increased their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $215.86.

Insider Activity

In related news, VP Shelley Reynolds sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $21,726,894.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Shelley Reynolds sold 2,700 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total value of $489,753.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,338 shares of company stock worth $11,894,344. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Down 2.3 %

Amazon.com stock opened at $193.25 on Friday. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 54.13, a P/E/G ratio of 1.42 and a beta of 1.14. The stock’s fifty day simple moving average is $183.87 and its 200-day simple moving average is $173.11. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $199.84. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

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

Amazon.com 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.