Heritage Oak Wealth Advisors LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Heritage Oak Wealth Advisors LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 42.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,879 shares of the e-commerce giant’s stock after buying an additional 1,150 shares during the period. Heritage Oak Wealth Advisors LLC’s holdings in Amazon.com were worth $738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the fourth quarter valued at $27,000. LSV Asset Management bought a new position in Amazon.com during the fourth quarter valued at $35,000. Inlight Wealth Management LLC bought a new position in Amazon.com during the first quarter valued at $40,000. Finally, Perritt Capital Management Inc increased 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 acquiring an additional 80 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America boosted their price objective on shares of Amazon.com from $248.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Rosenblatt Securities boosted their target price on shares of Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. HSBC raised their price target on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Finally, Robert W. Baird raised their price target on shares of Amazon.com from $220.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $254.71.

Amazon.com Stock Up 0.6%

NASDAQ:AMZN opened at $232.79 on Tuesday. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month 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. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 37.91, a P/E/G ratio of 1.72 and a beta of 1.33. The stock’s fifty day simple moving average is $216.19 and its 200-day simple moving average is $208.82.

Amazon.com (NASDAQ:AMZN) last released 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 return on equity of 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.