Formidable Asset Management LLC Acquires 889 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Formidable Asset Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,136 shares of the e-commerce giant’s stock after acquiring an additional 889 shares during the quarter. Amazon.com accounts for about 1.1% of Formidable Asset Management LLC’s holdings, making the stock its 15th largest position. Formidable Asset Management LLC’s holdings in Amazon.com were worth $6,685,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Capital Management Inc. raised its stake in shares of Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after acquiring an additional 45 shares during the last quarter. Talisman Wealth Advisors LLC increased its stake in shares of Amazon.com by 1.2% in the 4th quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant’s stock valued at $1,020,000 after acquiring an additional 53 shares during the last quarter. SWAN Capital LLC increased its position in shares of Amazon.com by 3.1% in the 4th quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant’s stock valued at $396,000 after buying an additional 55 shares in the last quarter. Lokken Investment Group LLC grew its holdings in shares of Amazon.com by 1.5% during the fourth quarter. Lokken Investment Group LLC now owns 3,866 shares of the e-commerce giant’s stock worth $848,000 after buying an additional 56 shares in the last quarter. Finally, CWC Advisors LLC. grew its stake in Amazon.com by 3.1% in the fourth quarter. CWC Advisors LLC. now owns 1,872 shares of the e-commerce giant’s stock valued at $411,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 2.9%

Shares of NASDAQ AMZN opened at $230.98 on Friday. The business has a 50-day simple moving average of $221.06 and a two-hundred day simple moving average of $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, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a market cap of $2.46 trillion, a P/E ratio of 35.21, a P/E/G ratio of 1.51 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last posted 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 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 the consensus estimate of $161.80 billion. During the same period in the previous year, the firm posted $1.26 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMZN. Moffett Nathanson boosted their price objective on Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a report on Friday, August 1st. Robert W. Baird lifted their target price on shares of Amazon.com from $220.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Susquehanna lifted their price target on shares of Amazon.com from $225.00 to $260.00 and gave the company a “positive” rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Buy” and an average price target of $262.87.

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.