Midland Wealth Advisors LLC Boosts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Midland Wealth Advisors LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 13.0% during the 2nd quarter, Holdings Channel reports. The firm owned 16,213 shares of the e-commerce giant’s stock after buying an additional 1,862 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Amazon.com were worth $3,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMZN. Vanguard Group Inc. grew its holdings in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Norges Bank bought a new position in shares of Amazon.com during the 4th quarter valued at approximately $17,700,551,000. Capital Research Global Investors grew its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp increased its position in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Amazon.com by 0.5% during 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 in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $185.13 on Wednesday. The firm has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 51.86, a PEG ratio of 1.46 and a beta of 1.14. 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’s 50-day simple moving average is $178.97 and its 200-day simple moving average is $182.81. 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 results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. As a group, equities analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The disclosure for this sale can be found here. Insiders sold 4,634,860 shares of company stock worth $926,639,482 in the last 90 days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research note on Monday. JMP Securities boosted their target price on Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 3rd. Finally, Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $223.65.

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.