GeoWealth Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

GeoWealth Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 76,156 shares of the e-commerce giant’s stock after acquiring an additional 103 shares during the quarter. GeoWealth Management LLC’s holdings in Amazon.com were worth $16,708,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. FMR LLC boosted its position in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares during the last quarter. Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter valued at about $27,266,582,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Amazon.com by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock valued at $14,719,407,000 after acquiring an additional 545,292 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the sale, the chief executive officer now directly owns 505,318 shares in the company, valued at approximately $115,434,843.92. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,798 shares of company stock valued at $17,486,053 over the last ninety days. Company insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $211.37 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.24 trillion, a PE ratio of 38.22, a P/E/G ratio of 1.50 and a beta of 1.30. The business has a 50 day moving average of $188.72 and a 200 day moving average of $208.27. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. Bank of America dropped their price target on Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Mizuho dropped their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Citigroup reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Tigress Financial lifted their price target on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.09.

About Amazon.com

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.