Angeles Wealth Management LLC Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Angeles Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,082 shares of the e-commerce giant’s stock after buying an additional 2,780 shares during the period. Amazon.com comprises about 0.8% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Angeles Wealth Management LLC’s holdings in Amazon.com were worth $8,905,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock worth $9,877,423 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 price objective on shares of Amazon.com in a research report on Thursday, October 3rd. Truist Financial upped their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Bank of America cut their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wolfe Research started coverage on Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, Piper Sandler dropped their target price on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.67.

Amazon.com Stock Performance

AMZN stock opened at $186.65 on Friday. The firm has a market cap of $1.94 trillion, a PE ratio of 52.28, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $179.11 and its two-hundred day moving average price is $183.05. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced 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. 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 analyst estimates of $148.63 billion. As a group, research analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current 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.