Precedent Wealth Partners LLC Buys Shares of 5,653 Amazon.com, Inc. (NASDAQ:AMZN)

Precedent Wealth Partners LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,653 shares of the e-commerce giant’s stock, valued at approximately $859,000.

A number of other large investors also recently bought and sold shares of AMZN. Vanguard Group Inc. increased its stake in Amazon.com by 4.4% during the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares during the period. State Street Corp increased its stake in Amazon.com by 1.0% during the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock worth $37,272,937,000 after purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC increased its stake in Amazon.com by 7.7% during the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Finally, Geode Capital Management LLC increased its stake in Amazon.com by 2.9% during the second quarter. Geode Capital Management LLC now owns 170,151,722 shares of the e-commerce giant’s stock worth $22,116,108,000 after purchasing an additional 4,842,542 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent research reports. Roth Mkm upped their target price on shares of Amazon.com from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wolfe Research upped their price target on Amazon.com from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Evercore ISI upped their price target on Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Wedbush increased their price objective on Amazon.com from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Amazon.com from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $198.09.

Amazon.com Trading Up 0.3 %

Shares of AMZN stock opened at $185.67 on Wednesday. Amazon.com, Inc. has a fifty-two week low of $97.71 and a fifty-two week high of $187.34. The stock has a market cap of $1.93 trillion, a P/E ratio of 64.02, a P/E/G ratio of 1.61 and a beta of 1.17. The business has a fifty day simple moving average of $174.83 and a 200-day simple moving average of $154.13. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The business had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. During the same quarter last year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts forecast that Amazon.com, Inc. will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the sale, the insider now directly owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the sale, the insider now directly owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,214,010 shares of company stock worth $5,505,874,846. 12.70% of the stock is owned by corporate insiders.

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.