Mitchell & Pahl Private Wealth LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Mitchell & Pahl Private Wealth LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 11.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,505 shares of the e-commerce giant’s stock after buying an additional 150 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Amazon.com were worth $291,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Carr Financial Group Corp lifted its stake in Amazon.com by 1.9% in the 2nd quarter. Carr Financial Group Corp now owns 17,178 shares of the e-commerce giant’s stock valued at $3,320,000 after buying an additional 313 shares in the last quarter. Successful Portfolios LLC lifted its stake in shares of Amazon.com by 0.5% during the 2nd quarter. Successful Portfolios LLC now owns 11,998 shares of the e-commerce giant’s stock worth $2,319,000 after purchasing an additional 63 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Amazon.com by 10.4% during the 2nd quarter. Sound Income Strategies LLC now owns 48,859 shares of the e-commerce giant’s stock worth $9,442,000 after purchasing an additional 4,617 shares during the period. Bond & Devick Financial Network Inc. lifted its stake in shares of Amazon.com by 9.9% during the 2nd quarter. Bond & Devick Financial Network Inc. now owns 3,671 shares of the e-commerce giant’s stock worth $709,000 after purchasing an additional 330 shares during the period. Finally, Wealth Management Partners LLC lifted its stake in shares of Amazon.com by 3.4% during the 2nd quarter. Wealth Management Partners LLC now owns 29,681 shares of the e-commerce giant’s stock worth $5,736,000 after purchasing an additional 965 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $177.04 on Friday. The business’s 50 day moving average is $183.78 and its 200-day moving average is $180.98. The stock has a market cap of $1.84 trillion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. 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, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. On average, analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BMO Capital Markets increased their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Piper Sandler reduced their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price target on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Telsey Advisory Group increased their target price on Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Buy” and an average price target of $221.69.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP David Zapolsky sold 9,490 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.88, for a total transaction of $1,716,551.20. Following the transaction, the senior vice president now owns 64,610 shares in the company, valued at $11,686,656.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders have sold 6,107,817 shares of company stock worth $1,221,241,837 over the last quarter. 10.80% of the stock is currently owned by company insiders.

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.