Brookstone Capital Management Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Brookstone Capital Management increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,062 shares of the e-commerce giant’s stock after acquiring an additional 31,310 shares during the quarter. Amazon.com comprises 1.1% of Brookstone Capital Management’s investment portfolio, making the stock its 16th biggest position. Brookstone Capital Management’s holdings in Amazon.com were worth $69,546,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth about $30,000. Strid Group LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at $43,000. Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter valued at $46,000. Steph & Co. acquired a new position in Amazon.com during the 1st quarter worth about $65,000. Finally, Advantage Trust Co purchased a new stake in Amazon.com during the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 1.3 %

Shares of NASDAQ:AMZN opened at $176.25 on Wednesday. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.83 trillion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. The company has a fifty day simple moving average of $182.34 and a 200 day simple moving average of $181.26.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. On average, equities research analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the sale, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated 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 directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMZN. Truist Financial increased their price objective on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JMP Securities increased their price objective on shares of Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a research note on Tuesday. Barclays raised their price target on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $222.31.

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.