Provident Wealth Management LLC Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Provident Wealth Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 23.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,656 shares of the e-commerce giant’s stock after buying an additional 500 shares during the quarter. Provident Wealth Management LLC’s holdings in Amazon.com were worth $513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $17,700,551,000. Capital Research Global Investors increased its position in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. Jennison Associates LLC increased its position in shares of Amazon.com by 0.5% during the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amazon.com by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock valued at $7,888,870,000 after acquiring an additional 1,525,922 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Up 3.7 %

NASDAQ AMZN opened at $178.50 on Friday. The stock has a 50-day moving average of $182.68 and a 200-day moving average of $180.99. The firm has a market cap of $1.86 trillion, a PE ratio of 50.00, 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 1-year low of $118.35 and a 1-year 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 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 4.73 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $200.36, for a total value of $246,241,037.48. Following the sale, the insider now owns 930,696,284 shares in the company, valued at approximately $186,474,307,462.24. 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 the stock in a transaction 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 sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock valued at $1,221,241,837 in the last 90 days. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AMZN shares. Stifel Nicolaus decreased their target price on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. BMO Capital Markets raised their target price on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America decreased their target price on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, TD Securities raised their price target on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Buy” and a consensus target price of $221.36.

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.