Concord Wealth Partners Has $8.40 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Concord Wealth Partners lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 44,168 shares of the e-commerce giant’s stock after selling 4,186 shares during the quarter. Amazon.com makes up approximately 1.4% of Concord Wealth Partners’ investment portfolio, making the stock its 15th largest holding. Concord Wealth Partners’ holdings in Amazon.com were worth $8,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the 4th quarter valued at $27,000. LSV Asset Management purchased a new position in Amazon.com in the fourth quarter valued at about $35,000. Perritt Capital Management Inc lifted its stake in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Cooksen Wealth LLC purchased a new position in Amazon.com in the first quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Amazon.com in the first quarter valued at approximately $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. Westpark Capital reaffirmed a “buy” rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, August 1st. Susquehanna increased their price objective on Amazon.com from $225.00 to $260.00 and gave the stock a “positive” rating in a research report on Friday, August 1st. HSBC raised their target price on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Truist Financial raised their price objective on Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Bank of America lifted their target price on shares of Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $262.87.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was 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 of the company’s stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is currently owned by insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $230.98 on Friday. The company has a market capitalization of $2.46 trillion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The business’s fifty day moving average is $221.06 and its 200 day moving average is $208.69. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52.

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

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.