Pitti Group Wealth Management LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pitti Group Wealth Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,269 shares of the e-commerce giant’s stock after purchasing an additional 255 shares during the period. Amazon.com accounts for approximately 2.3% of Pitti Group Wealth Management LLC’s holdings, making the stock its 12th biggest position. Pitti Group Wealth Management LLC’s holdings in Amazon.com were worth $2,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Amazon.com by 1.9% during the first 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 during the last quarter. Swedbank AB purchased a new stake in shares of Amazon.com during the 1st quarter worth approximately $2,239,757,000. Capital World Investors boosted its position in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the last quarter. 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. Finally, Global Assets Advisory LLC increased its position in Amazon.com by 30,350.2% in the first quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock worth $1,178,164,000 after purchasing an additional 6,510,119 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AMZN. Stifel Nicolaus lowered their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays increased their price target on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Securities boosted their price objective on Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Finally, Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price on the stock. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Amazon.com Stock Up 0.3 %

NASDAQ:AMZN opened at $187.53 on Friday. The company’s 50-day simple moving average is $181.54 and its 200-day simple moving average is $183.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 52.53, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating 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 company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities analysts anticipate that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock valued at $9,877,423 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.