Levy Wealth Management Group LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Levy Wealth Management Group LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,887 shares of the e-commerce giant’s stock after purchasing an additional 106 shares during the period. Amazon.com makes up about 0.4% of Levy Wealth Management Group LLC’s portfolio, making the stock its 25th biggest holding. Levy Wealth Management Group LLC’s holdings in Amazon.com were worth $1,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pettinga Financial Advisors LLC grew its position in Amazon.com by 5.8% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 5,287 shares of the e-commerce giant’s stock worth $1,022,000 after purchasing an additional 290 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Amazon.com by 6.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 71,376 shares of the e-commerce giant’s stock worth $13,793,000 after purchasing an additional 4,562 shares in the last quarter. Spirit of America Management Corp NY raised its position in shares of Amazon.com by 33.7% during the 2nd quarter. Spirit of America Management Corp NY now owns 28,550 shares of the e-commerce giant’s stock valued at $5,517,000 after buying an additional 7,200 shares during the period. Moody Lynn & Lieberson LLC raised its position in shares of Amazon.com by 3.6% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 217,892 shares of the e-commerce giant’s stock valued at $42,108,000 after buying an additional 7,602 shares during the period. Finally, Yeomans Consulting Group Inc. raised its position in shares of Amazon.com by 11.1% during the 2nd quarter. Yeomans Consulting Group Inc. now owns 3,639 shares of the e-commerce giant’s stock valued at $703,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com 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 completion of the transaction, the chief executive officer now 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 have sold 6,104,317 shares of company stock worth $1,220,621,322 over the last quarter. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Truist Financial boosted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company lowered their target price on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. TD Cowen boosted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Barclays boosted their price target on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $222.49.

Amazon.com Stock Performance

Amazon.com stock opened at $184.89 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a fifty day moving average of $179.22 and a two-hundred day moving average of $181.74. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 51.79, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20.

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

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.