Sax Wealth Advisors LLC Purchases New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sax Wealth Advisors LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 27,117 shares of the e-commerce giant’s stock, valued at approximately $5,949,000.

Several other hedge funds also recently modified their holdings of the company. Merit Financial Group LLC grew its position in Amazon.com by 37.9% during the 4th quarter. Merit Financial Group LLC now owns 283,663 shares of the e-commerce giant’s stock worth $62,233,000 after acquiring an additional 77,972 shares during the last quarter. Grant GrossMendelsohn LLC grew its holdings in shares of Amazon.com by 10.0% during the fourth quarter. Grant GrossMendelsohn LLC now owns 3,977 shares of the e-commerce giant’s stock worth $873,000 after purchasing an additional 361 shares during the last quarter. Walker Asset Management LLC increased its stake in shares of Amazon.com by 2.0% in the fourth quarter. Walker Asset Management LLC now owns 8,502 shares of the e-commerce giant’s stock valued at $1,865,000 after buying an additional 167 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in shares of Amazon.com by 8.5% in the fourth quarter. Chemistry Wealth Management LLC now owns 50,672 shares of the e-commerce giant’s stock valued at $11,117,000 after buying an additional 3,977 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its position in Amazon.com by 6.0% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 32,106 shares of the e-commerce giant’s stock worth $7,044,000 after buying an additional 1,809 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 1.3 %

Amazon.com stock opened at $237.68 on Friday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $241.77. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 1.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a 50-day moving average of $223.02 and a 200-day moving average of $198.55.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 5.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,027,340 shares of company stock valued at $1,252,456,773 over the last three months. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMZN. Monness Crespi & Hardt 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 Friday, November 1st. Truist Financial boosted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America boosted their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.33.

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.