Lake Hills Wealth Management LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Lake Hills Wealth Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,288 shares of the e-commerce giant’s stock after purchasing an additional 1,846 shares during the quarter. Amazon.com makes up about 1.4% of Lake Hills Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Lake Hills Wealth Management LLC’s holdings in Amazon.com were worth $1,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Amazon.com during the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC grew its holdings in shares of Amazon.com by 21,420.5% in 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 during the period. Capital World Investors grew its holdings in shares of 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 worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Vanguard Group Inc. grew its holdings in shares of 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 worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, Director Keith Brian Alexander sold 1,000 shares of the company’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 owns 5,465 shares of the company’s stock, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the transaction, the chief executive officer now directly owns 517,050 shares in the company, valued at approximately $105,984,909. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMZN has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and set a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Wall Street Zen lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Stifel Nicolaus cut their price target on Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Royal Bank Of Canada lowered their price objective on 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, Evercore ISI lowered their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. 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, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.53.

Amazon.com Trading Down 1.3%

AMZN opened at $209.69 on Friday. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 1.61 and a beta of 1.33. The stock’s 50 day moving average price is $198.41 and its 200-day moving average price is $209.31. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last released 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 firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.