Legacy Capital Wealth Partners LLC Has $3.42 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Capital Wealth Partners LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,986 shares of the e-commerce giant’s stock after acquiring an additional 94 shares during the quarter. Amazon.com comprises approximately 0.7% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Legacy Capital Wealth Partners LLC’s holdings in Amazon.com were worth $3,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com in the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the 4th quarter valued at about $27,000. LSV Asset Management acquired a new stake in Amazon.com in the 4th quarter valued at about $35,000. Cooksen Wealth LLC acquired a new stake in Amazon.com in the 1st quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in Amazon.com in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, August 1st. Evercore ISI reduced their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets raised their target price on shares of Amazon.com from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Scotiabank raised their target price on shares of Amazon.com from $250.00 to $275.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. Finally, Bank of America raised their target price on shares of Amazon.com from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $262.45.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The transaction was disclosed in a filing 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 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,096,253 shares of company stock worth $5,673,745,409 over the last quarter. 9.70% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $224.66 on Thursday. The business’s 50 day simple moving average is $220.60 and its 200 day simple moving average is $208.72. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The stock has a market capitalization of $2.40 trillion, a PE ratio of 34.25, a PEG ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $161.80 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.