Primoris Wealth Advisors LLC Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Primoris Wealth Advisors LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,903 shares of the e-commerce giant’s stock after purchasing an additional 3,772 shares during the quarter. Amazon.com makes up 4.5% of Primoris Wealth Advisors LLC’s portfolio, making the stock its 2nd largest holding. Primoris Wealth Advisors LLC’s holdings in Amazon.com were worth $5,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooksen Wealth LLC bought a new stake in Amazon.com during the fourth quarter worth approximately $30,000. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth $46,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares in the last quarter. Finally, Steph & Co. acquired a new stake in shares of Amazon.com in the first quarter valued at $65,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 0.9 %

AMZN stock opened at $186.33 on Tuesday. The firm has a market cap of $1.94 trillion, a PE ratio of 52.19, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a fifty day simple moving average of $179.00 and a 200 day simple moving average of $182.74. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Sell-side analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. TD Securities boosted their target price on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday. Wells Fargo & Company dropped their price target on Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Bank of America reduced their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $223.65.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were 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 directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,634,860 shares of company stock valued at $926,639,482 over the last 90 days. 10.80% of the stock is currently owned by company 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.