Joseph Group Capital Management Makes New $3.05 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Joseph Group Capital Management acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,011 shares of the e-commerce giant’s stock, valued at approximately $3,046,000.

Several other institutional investors have also modified their holdings of AMZN. Brighton Jones LLC increased its position in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after acquiring an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com during the 4th quarter valued at $2,153,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the sale, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 25,102,037 shares of company stock valued at $5,674,937,048 over the last ninety days. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 3.9%

AMZN opened at $222.19 on Thursday. The company has a 50-day moving average price of $218.92 and a 200 day moving average price of $209.05. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $242.52. The company has a market cap of $2.37 trillion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AMZN. Moffett Nathanson raised their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, August 1st. Royal Bank Of Canada increased their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Cowen reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, August 1st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $262.45.

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.