Amazon.com, Inc. (NASDAQ:AMZN) is Riverbend Wealth Management LLC’s 9th Largest Position

Riverbend Wealth Management LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,985 shares of the e-commerce giant’s stock after purchasing an additional 410 shares during the period. Amazon.com makes up approximately 2.0% of Riverbend Wealth Management LLC’s investment portfolio, making the stock its 9th largest position. Riverbend Wealth Management LLC’s holdings in Amazon.com were worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the 4th quarter valued at approximately $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at approximately $27,000. LSV Asset Management purchased a new position in Amazon.com in the 4th quarter valued at approximately $35,000. Inlight Wealth Management LLC purchased a new position in Amazon.com in the 1st quarter valued at approximately $40,000. Finally, Perritt Capital Management Inc raised its holdings in shares of Amazon.com by 72.7% in the 4th 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. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,442,187 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $225.89, for a total transaction of $551,665,621.43. Following the sale, the insider owned 895,279,901 shares of the company’s stock, valued at approximately $202,234,776,836.89. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total transaction of $550,150.00. Following the completion of the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,602,037 shares of company stock worth $3,044,172,641. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Citizens Jmp assumed coverage on shares of Amazon.com in a report on Thursday, July 10th. They issued a “strong-buy” rating on the stock. Moffett Nathanson raised their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Benchmark restated a “buy” rating and issued a $260.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Finally, Bank of America increased their price target on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Three equities research 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. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $250.35.

Amazon.com Stock Down 1.4%

Shares of NASDAQ:AMZN opened at $223.19 on Thursday. The company has a market cap of $2.37 trillion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.69 and a beta of 1.33. The firm’s 50-day simple moving average is $212.21 and its 200-day simple moving average is $208.60. 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, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.