Alpine Bank Wealth Management Purchases New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Alpine Bank Wealth Management bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,385 shares of the e-commerce giant’s stock, valued at approximately $2,166,000.

A number of other institutional investors also recently bought and sold shares of AMZN. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter worth $35,000. Perritt Capital Management Inc increased 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. Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at about $40,000. Finally, Capitol Family Office Inc. purchased a new position in Amazon.com during the 1st quarter valued at about $42,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AMZN. BNP Paribas Exane raised shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target on the stock in a research note on Friday, June 27th. Bank of America lifted their price target on shares of Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. Roth Capital set a $250.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, UBS Group reiterated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. 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. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $250.35.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were 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. Insiders have sold a total of 14,335,232 shares of company stock worth $3,210,622,570 over the last 90 days. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 0.3%

AMZN stock opened at $223.88 on Friday. The company has a market cap of $2.38 trillion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The business has a 50-day simple moving average of $212.84 and a 200 day simple moving average of $208.62. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. 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 released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $154.96 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.