Ascent Wealth Partners LLC Acquires 1,306 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Ascent Wealth Partners LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,522 shares of the e-commerce giant’s stock after purchasing an additional 1,306 shares during the quarter. Amazon.com comprises approximately 1.2% of Ascent Wealth Partners LLC’s holdings, making the stock its 26th largest position. Ascent Wealth Partners LLC’s holdings in Amazon.com were worth $8,851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC bought a new position in shares of Amazon.com in the fourth quarter worth approximately $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the 4th quarter valued at approximately $27,000. LSV Asset Management bought a new position in Amazon.com in the 4th quarter valued at approximately $35,000. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the first quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Amazon.com during the first quarter valued at $40,000. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last quarter. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Trading Up 2.9%

AMZN stock opened at $230.98 on Friday. The stock has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $242.52. The firm’s fifty day simple moving average is $221.06 and its two-hundred day simple moving average is $208.69. 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 quarterly 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. 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%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. As a group, analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research analyst reports. Piper Sandler upped their target price on shares of Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Scotiabank increased their price objective on shares of Amazon.com from $250.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $300.00 price target on shares of Amazon.com in a report on Thursday. Finally, Westpark Capital reissued a “buy” rating and set a $280.00 price target 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 company. According to data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus price target of $262.87.

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.