Kingsview Wealth Management LLC Acquires 30,977 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Kingsview Wealth Management LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 526,608 shares of the e-commerce giant’s stock after buying an additional 30,977 shares during the period. Amazon.com accounts for about 1.9% of Kingsview Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Kingsview Wealth Management LLC’s holdings in Amazon.com were worth $100,192,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

AMZN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Truist Financial upped their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Piper Sandler upped their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Pivotal Research upped their price target on shares of Amazon.com from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald upped their price target on shares of Amazon.com from $260.00 to $280.00 and gave the company an “overweight” rating in a research note 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’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 Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction dated 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 directly 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. Over the last quarter, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $230.98 on Friday. 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, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The firm has a market capitalization 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. The company’s 50 day moving average price is $221.06 and its two-hundred day moving average price is $208.69.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share 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 company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the business posted $1.26 EPS. Amazon.com’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.