Summit Wealth & Retirement Planning Inc. Acquires 565 Shares of Amazon.com, Inc. $AMZN

Summit Wealth & Retirement Planning Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,722 shares of the e-commerce giant’s stock after buying an additional 565 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Amazon.com were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Western Wealth Management LLC grew its stake in Amazon.com by 0.9% in the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock worth $26,660,000 after purchasing an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. bought a new position in Amazon.com in the fourth quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC bought a new position in Amazon.com in the first quarter worth approximately $514,000. Segall Bryant & Hamill LLC boosted its position in Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Finally, Bearing Point Capital LLC bought a new stake in Amazon.com during the 4th quarter valued at $12,014,000. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’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 in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wedbush increased their target price on Amazon.com from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Amazon.com from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Pivotal Research increased their target price on Amazon.com from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 1st. BMO Capital Markets increased their target price on Amazon.com from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Citizens Jmp assumed coverage on Amazon.com in a research report on Thursday, July 10th. They set a “strong-buy” rating on the stock. 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’s stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $262.87.

Amazon.com Trading Up 0.2%

AMZN opened at $231.49 on Tuesday. 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 $2.47 trillion, a PE ratio of 35.29, a P/E/G ratio of 1.56 and a beta of 1.31. The business’s 50 day moving average price is $221.70 and its 200 day moving average price is $208.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The firm 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 firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com 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.