Centric Wealth Management Purchases 716 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Centric Wealth Management increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,201 shares of the e-commerce giant’s stock after purchasing an additional 716 shares during the period. Amazon.com accounts for 1.1% of Centric Wealth Management’s investment portfolio, making the stock its 18th largest holding. Centric Wealth Management’s holdings in Amazon.com were worth $4,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Semus Wealth Partners LLC boosted its stake in Amazon.com by 0.3% during the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after purchasing an additional 51 shares in the last quarter. O Connor Financial Group LLC boosted its position in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares in the last quarter. Finally, Cedar Point Capital Partners LLC raised its position in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after buying an additional 56 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler increased their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Pivotal Research assumed coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Stock Performance

NASDAQ AMZN opened at $222.13 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $148.21 and a 1-year high of $233.00. The business has a 50 day simple moving average of $215.07 and a two-hundred day simple moving average of $194.92. The stock has a market capitalization of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

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.