GSB Wealth Management LLC Grows Stake in Amazon.com, Inc. (NASDAQ:AMZN)

GSB Wealth Management LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,165 shares of the e-commerce giant’s stock after purchasing an additional 306 shares during the period. GSB Wealth Management LLC’s holdings in Amazon.com were worth $2,124,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMZN. Momentous Wealth Management Inc. purchased a new position in Amazon.com in the fourth quarter worth $749,000. Segall Bryant & Hamill LLC grew its position in Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock worth $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Bearing Point Capital LLC purchased a new position in Amazon.com in the fourth quarter worth $12,014,000. Evergreen Capital Management LLC boosted its position in Amazon.com by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after buying an additional 1,198 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Amazon.com by 173.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock valued at $759,434,000 after buying an additional 2,196,353 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 13,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the transaction, the senior vice president owned 47,030 shares of the company’s stock, valued at $9,519,342.30. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 3,100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $221.42, for a total value of $686,402,000.00. Following the transaction, the insider directly owned 905,679,901 shares of the company’s stock, valued at approximately $200,535,643,679.42. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,426,963 shares of company stock worth $757,297,707 over the last quarter. 9.70% of the stock is currently owned by company insiders.

Amazon.com Stock Up 1.5%

Shares of NASDAQ:AMZN opened at $223.13 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week 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. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 36.34, a P/E/G ratio of 1.68 and a beta of 1.33. The stock has a 50 day moving average price of $206.44 and a 200-day moving average price of $208.62.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities 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 equities research analysts have recently weighed in on AMZN shares. Cantor Fitzgerald boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Truist Financial increased their target price on Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James Financial restated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Scotiabank dropped their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Finally, Royal Bank Of Canada dropped their target price on Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.60.

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.