Grant Private Wealth Management Inc Purchases New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Grant Private Wealth Management Inc purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 21,056 shares of the e-commerce giant’s stock, valued at approximately $4,619,000. Amazon.com makes up 5.0% of Grant Private Wealth Management Inc’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Accordant Advisory Group Inc boosted its holdings in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter worth $27,000. Icon Wealth Advisors LLC boosted its stake 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 purchasing an additional 25,581 shares during the period. Perritt Capital Management Inc grew its holdings in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC increased its stake in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 45 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Down 0.1 %

Shares of AMZN stock opened at $189.98 on Friday. The company has a 50-day moving average of $190.48 and a two-hundred day moving average of $207.77. The firm has a market cap of $2.02 trillion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the completion of the sale, the senior vice president now owns 49,950 shares in the company, valued at $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 in the last three months. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMZN. Wells Fargo & Company dropped their target price on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Citigroup reduced their price objective on Amazon.com from $273.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Mizuho lowered their target price on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Morgan Stanley cut their price target on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Friday. Three analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.55.

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.