Spire Wealth Management Has $68.59 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Spire Wealth Management lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,495 shares of the e-commerce giant’s stock after selling 13,090 shares during the period. Amazon.com makes up 2.2% of Spire Wealth Management’s investment portfolio, making the stock its 6th largest position. Spire Wealth Management’s holdings in Amazon.com were worth $68,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMZN. Vanguard Group Inc. boosted its stake in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. FMR LLC raised its stake in Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after buying an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after acquiring an additional 4,087,933 shares during the period. Finally, Norges Bank acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $27,266,582,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $223.88 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business’s 50 day moving average price is $212.84 and its 200-day moving average price is $208.62. The firm has a market capitalization of $2.38 trillion, a PE ratio of 36.46, a P/E/G ratio of 1.67 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

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 analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 733,195 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total transaction of $166,449,928.90. Following the completion of the transaction, the insider directly owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer owned 514,550 shares of the company’s stock, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,335,232 shares of company stock valued at $3,210,622,570. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Cantor Fitzgerald upped their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America lifted their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a report on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Citizens Jmp began coverage on shares of Amazon.com in a research note on Thursday, July 10th. They set a “strong-buy” rating for the company. Finally, Piper Sandler set a $250.00 price objective on shares of Amazon.com and gave the company an “overweight” rating in a research note on Friday, July 11th. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.35.

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.