Tower View Wealth Management LLC Acquires 2,717 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Tower View Wealth Management LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,854 shares of the e-commerce giant’s stock after buying an additional 2,717 shares during the period. Amazon.com makes up 3.1% of Tower View Wealth Management LLC’s holdings, making the stock its 9th largest position. Tower View Wealth Management LLC’s holdings in Amazon.com were worth $5,383,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMZN. Garrison Point Advisors LLC boosted its position in Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC boosted its position in Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares in the last quarter. Stordahl Capital Management Inc. raised its holdings in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its holdings in shares of Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after acquiring an additional 57 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 0.9 %

AMZN opened at $191.60 on Friday. The firm has a market cap of $1.99 trillion, a P/E ratio of 53.67, a P/E/G ratio of 1.39 and a beta of 1.14. The business has a fifty day simple moving average of $178.54 and a 200-day simple moving average of $182.04. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm 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 21.39% and a net margin of 7.35%. On average, equities analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of Amazon.com stock in a transaction 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 completion of the transaction, the insider now directly owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 1,228,993 shares of the firm’s stock in a transaction 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 directly owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s 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 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. Over the last three months, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of research analyst reports. TD Cowen increased their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Roth Mkm increased their target price on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on Amazon.com in a report on Thursday, September 5th. They set an “overweight” rating and a $230.00 target price for the company. Wolfe Research initiated coverage on Amazon.com in a report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price for the company. Finally, Truist Financial increased their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Buy” and an average price target of $222.84.

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.