TrueWealth Advisors LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

TrueWealth Advisors LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% during the second quarter, Holdings Channel reports. The institutional investor owned 7,061 shares of the e-commerce giant’s stock after buying an additional 416 shares during the quarter. TrueWealth Advisors LLC’s holdings in Amazon.com were worth $1,365,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Amazon.com by 1.9% in 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 purchasing an additional 14,724,687 shares during the last quarter. Norges Bank purchased a new position in Amazon.com in the fourth quarter valued at approximately $17,700,551,000. Capital Research Global Investors increased its stake in Amazon.com by 8.5% in 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 purchasing an additional 6,810,145 shares during the last quarter. Jennison Associates LLC increased its stake in Amazon.com by 0.5% in 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 purchasing an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Amazon.com by 3.0% in 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 purchasing an additional 1,525,922 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s 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 transaction, the chief executive officer now directly 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 SEC, which is accessible through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMZN. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Amazon.com in a research note on Thursday. Truist Financial raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. UBS Group increased their price target on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a report on Friday, August 2nd. Finally, TD Securities raised their target price 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $222.49.

Amazon.com Stock Performance

NASDAQ AMZN opened at $186.49 on Friday. The business’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $181.62. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 52.24, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. 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, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current year.

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.