Pacific Wealth Strategies Group Inc. Has $6.11 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pacific Wealth Strategies Group Inc. trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,107 shares of the e-commerce giant’s stock after selling 133 shares during the quarter. Amazon.com accounts for about 4.5% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 9th biggest holding. Pacific Wealth Strategies Group Inc.’s holdings in Amazon.com were worth $6,109,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Argent Advisors Inc. grew its position in shares of Amazon.com by 697.6% in the 1st quarter. Argent Advisors Inc. now owns 11,797 shares of the e-commerce giant’s stock worth $2,244,000 after buying an additional 10,318 shares during the period. Valley National Advisers Inc. lifted its stake in Amazon.com by 2.0% during the 1st quarter. Valley National Advisers Inc. now owns 35,749 shares of the e-commerce giant’s stock valued at $6,801,000 after acquiring an additional 705 shares during the period. Jacobsen Capital Management lifted its stake in Amazon.com by 2.0% during the 1st quarter. Jacobsen Capital Management now owns 15,974 shares of the e-commerce giant’s stock valued at $3,039,000 after acquiring an additional 312 shares during the period. New Wave Wealth Advisors LLC lifted its stake in Amazon.com by 0.7% during the 1st quarter. New Wave Wealth Advisors LLC now owns 21,484 shares of the e-commerce giant’s stock valued at $4,087,000 after acquiring an additional 158 shares during the period. Finally, Amalgamated Bank lifted its stake in Amazon.com by 2.5% during the 1st quarter. Amalgamated Bank now owns 2,057,992 shares of the e-commerce giant’s stock valued at $391,554,000 after acquiring an additional 49,479 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.7%

NASDAQ AMZN opened at $232.23 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market cap of $2.47 trillion, a price-to-earnings ratio of 37.82, a PEG ratio of 1.70 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $215.14 and a 200-day moving average of $208.84.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Bank of America increased their price objective on shares of Amazon.com from $248.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday. Tigress Financial raised their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $235.00 price objective (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Three equities research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.33.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 20,947,939 shares of company stock valued at $4,720,588,785. 9.70% of the stock is currently owned by company insiders.

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.