Modern Wealth Management LLC Acquires 35,213 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Modern Wealth Management LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 97.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,493 shares of the e-commerce giant’s stock after acquiring an additional 35,213 shares during the period. Modern Wealth Management LLC’s holdings in Amazon.com were worth $16,668,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AMZN. Rench Wealth Management Inc. boosted its stake in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares during the last quarter. Blankinship & Foster LLC lifted its holdings in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $4,270,000. Floyd Financial Group LLC bought a new stake in Amazon.com during the fourth quarter worth $4,494,000. Finally, Patton Albertson Miller Group LLC raised its position in Amazon.com by 2.7% in the 4th quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant’s stock valued at $4,122,000 after buying an additional 495 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a report on Friday, February 7th. DA Davidson cut their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Citigroup decreased their price objective on shares of Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Oppenheimer boosted their target price on Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Benchmark increased their price target on Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $247.56.

Read Our Latest Research Report on Amazon.com

Amazon.com Stock Up 3.3 %

Shares of AMZN opened at $186.54 on Friday. The firm has a market cap of $1.98 trillion, a P/E ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a 50 day simple moving average of $194.27 and a two-hundred day simple moving average of $207.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by insiders.

Amazon.com Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZNFree Report).

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.