Miller Financial Services LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Miller Financial Services LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,087 shares of the e-commerce giant’s stock, valued at approximately $3,968,000. Amazon.com comprises about 3.4% of Miller Financial Services LLC’s portfolio, making the stock its 4th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accordant Advisory Group Inc raised its holdings in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Icon Wealth Advisors LLC grew its holdings in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. Quattro Financial Advisors LLC increased its position in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 45 shares during the period. Compass Planning Associates Inc purchased a new position in Amazon.com in the 4th quarter worth $51,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Amazon.com during the 4th quarter worth about $54,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 2.0 %

NASDAQ AMZN opened at $184.87 on Friday. The business has a fifty day moving average price of $204.23 and a 200 day moving average price of $208.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market cap of $1.96 trillion, a P/E ratio of 33.43, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMZN. Wedbush reissued an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Phillip Securities downgraded shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. HSBC lifted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Canaccord Genuity Group reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.19.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock valued at $23,341,803 in the last ninety days. 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.