Montz Harcus Wealth Management LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Montz Harcus Wealth Management LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,318 shares of the e-commerce giant’s stock after purchasing an additional 2,150 shares during the quarter. Amazon.com accounts for approximately 2.5% of Montz Harcus Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Montz Harcus Wealth Management LLC’s holdings in Amazon.com were worth $4,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cable Hill Partners LLC raised its holdings in shares of Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares during the last quarter. Northern Capital Management Inc. raised its holdings in shares of Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after buying an additional 45 shares during the last quarter. White Wing Wealth Management raised its holdings in shares of Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after buying an additional 47 shares during the last quarter. Balanced Wealth Group LLC raised its holdings in shares of Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock worth $705,000 after buying an additional 48 shares during the last quarter. Finally, ETF Store Inc. raised its holdings in shares of Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant’s stock worth $522,000 after buying an additional 48 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMZN. Moffett Nathanson raised their price target on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Morgan Stanley decreased their price target on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, April 14th. BNP Paribas raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Scotiabank decreased their price target on shares of 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, Westpark Capital reaffirmed a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Three investment 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’s stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $245.60.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 13,570 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the transaction, the senior vice president directly owned 47,030 shares in the company, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 2,695 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president owned 119,780 shares in the company, valued at $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,426,963 shares of company stock valued at $757,297,707. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Up 1.5%

Shares of NASDAQ AMZN opened at $223.13 on Monday. The company’s 50-day simple moving average is $206.44 and its 200-day simple moving average is $208.52. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.