Elite Wealth Management Inc. Purchases 1,541 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Elite Wealth Management Inc. boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,787 shares of the e-commerce giant’s stock after purchasing an additional 1,541 shares during the period. Amazon.com makes up about 5.5% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $42,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Lokken Investment Group LLC increased its holdings in Amazon.com by 4.8% in the 1st quarter. Lokken Investment Group LLC now owns 4,050 shares of the e-commerce giant’s stock valued at $771,000 after purchasing an additional 184 shares in the last quarter. Apollon Financial LLC lifted its position in Amazon.com by 4.7% during the 1st quarter. Apollon Financial LLC now owns 72,386 shares of the e-commerce giant’s stock worth $13,772,000 after acquiring an additional 3,278 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Amazon.com by 22.0% during the 1st quarter. Apollon Wealth Management LLC now owns 460,774 shares of the e-commerce giant’s stock worth $87,667,000 after acquiring an additional 83,191 shares in the last quarter. Pioneer Trust Bank N A OR lifted its position in Amazon.com by 3.8% during the 1st quarter. Pioneer Trust Bank N A OR now owns 59,330 shares of the e-commerce giant’s stock worth $11,288,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in Amazon.com by 10.7% during the 1st quarter. Hohimer Wealth Management LLC now owns 46,394 shares of the e-commerce giant’s stock worth $8,827,000 after acquiring an additional 4,466 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on AMZN. Needham & Company LLC reissued a “buy” rating and set a $265.00 price target on shares of Amazon.com in a research report on Friday, August 1st. BNP Paribas Exane raised Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target on the stock in a research report on Friday, June 27th. HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Susquehanna boosted their price objective on shares of Amazon.com from $225.00 to $260.00 and gave the stock a “positive” rating in a report on Friday, August 1st. Finally, Cowen reiterated a “buy” rating on shares of Amazon.com in a report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $262.45.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,101,037 shares of company stock worth $5,674,726,368 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $221.30 on Tuesday. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The firm has a 50 day moving average of $219.94 and a 200-day moving average of $208.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.36 trillion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

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

Amazon.com Company 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.