Summit Wealth Group LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Wealth Group LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,232 shares of the e-commerce giant’s stock after selling 341 shares during the quarter. Summit Wealth Group LLC’s holdings in Amazon.com were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Wealth Management LLC lifted its position in Amazon.com by 0.9% during the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock valued at $26,660,000 after buying an additional 1,297 shares during the period. Momentous Wealth Management Inc. purchased a new position in Amazon.com during the fourth quarter valued at $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Amazon.com during the first quarter valued at $514,000. Segall Bryant & Hamill LLC lifted its position in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after buying an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC purchased a new position in Amazon.com during the fourth quarter valued at $12,014,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 0.1%

NASDAQ AMZN opened at $221.47 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The stock’s 50 day moving average is $220.25 and its 200 day moving average is $208.61. The stock has a market cap of $2.36 trillion, a PE ratio of 33.76, a P/E/G ratio of 1.49 and a beta of 1.31.

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

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer owned 512,050 shares of the company’s stock, valued at $111,114,850. The trade was a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred 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 completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,101,037 shares of company stock worth $5,674,726,368. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Telsey Advisory Group raised their price objective on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Raymond James Financial reissued an “outperform” rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Stifel Nicolaus raised their price objective on Amazon.com from $245.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Tigress Financial raised their price target on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Oppenheimer reduced their price target on Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and a consensus target price of $262.45.

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.