Tower Wealth Partners Inc. Has $993,000 Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Tower Wealth Partners Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,221 shares of the e-commerce giant’s stock after buying an additional 311 shares during the quarter. Amazon.com accounts for about 0.5% of Tower Wealth Partners Inc.’s portfolio, making the stock its 25th largest position. Tower Wealth Partners Inc.’s holdings in Amazon.com were worth $993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Amazon.com in the fourth quarter worth $27,266,582,000. GAMMA Investing LLC lifted its holdings in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares in the last quarter. Capital World Investors grew its stake in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Vanguard Group Inc. grew its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in shares of Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after acquiring an additional 12,018,120 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of several recent analyst reports. Rosenblatt Securities lifted their price objective on Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Bank of America raised their target price on shares of Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Raymond James Financial reissued an “outperform” rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Royal Bank Of Canada cut their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Scotiabank reduced their target price on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.89.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $212.52 on Friday. The firm has a market cap of $2.26 trillion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 1.61 and a beta of 1.33. The business’s 50 day moving average is $197.91 and its 200-day moving average is $209.34. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping 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 24.14% and a net margin of 10.14%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total transaction of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares in the company, valued at $105,984,909. This represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the transaction, the director now directly owns 5,465 shares in the company, valued at $1,151,366.20. This represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is 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.