Wealth Alliance LLC Has $11.56 Million Stake in Amazon.com, Inc. $AMZN

Wealth Alliance LLC trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,778 shares of the e-commerce giant’s stock after selling 2,277 shares during the period. Amazon.com accounts for about 1.4% of Wealth Alliance LLC’s portfolio, making the stock its 11th biggest holding. Wealth Alliance LLC’s holdings in Amazon.com were worth $11,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMZN. Western Wealth Management LLC increased its stake in shares of Amazon.com by 0.9% during 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 during the period. Momentous Wealth Management Inc. bought a new position in shares of Amazon.com during the fourth quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Amazon.com during the first quarter worth approximately $514,000. Segall Bryant & Hamill LLC increased its stake in shares of Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock worth $69,572,000 after purchasing an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC bought a new position in shares of Amazon.com during the fourth quarter worth approximately $12,014,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent research reports. Monness Crespi & Hardt increased their target price on Amazon.com from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Piper Sandler increased their target price on Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, August 1st. UBS Group reiterated a “buy” rating and set a $271.00 target price (up previously from $249.00) on shares of Amazon.com in a research note on Monday, July 28th. Finally, Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average price target of $262.87.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com 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 completion of the transaction, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $231.49 on Tuesday. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The stock has a 50 day moving average price of $221.70 and a two-hundred day moving average price of $208.21. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 35.29, a P/E/G ratio of 1.56 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.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping 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 the consensus estimate of $161.80 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. 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.