MinichMacGregor Wealth Management LLC Acquires 178 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

MinichMacGregor Wealth Management LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,681 shares of the e-commerce giant’s stock after purchasing an additional 178 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Amazon.com were worth $2,222,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com in the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the 4th quarter worth $35,000. Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the 1st quarter worth $40,000. Finally, Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 17,750 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total value of $3,577,867.50. Following the transaction, the chief financial officer directly owned 49,000 shares of the company’s stock, valued at $9,876,930. This trade represents a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,886,613 shares of company stock worth $1,531,840,610. Corporate insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler boosted their price objective on Amazon.com from $212.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. BNP Paribas raised Amazon.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Evercore ISI decreased their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $249.42.

Amazon.com Stock Up 1.2%

Shares of NASDAQ AMZN opened at $225.02 on Friday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm’s 50 day moving average price is $209.90 and its 200 day moving average price is $208.63. The firm has a market cap of $2.39 trillion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. 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 announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm 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. Amazon.com’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share 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.