Beacon Financial Group Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Beacon Financial Group raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 29.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,765 shares of the e-commerce giant’s stock after acquiring an additional 6,946 shares during the period. Beacon Financial Group’s holdings in Amazon.com were worth $5,853,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cable Hill Partners LLC grew its stake in Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares during the period. Quattro Financial Advisors LLC raised its holdings in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares during the period. Northern Capital Management Inc. increased its holdings in shares of Amazon.com by 0.6% in the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after acquiring an additional 45 shares during the period. White Wing Wealth Management increased its stake in Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after buying an additional 47 shares during the period. Finally, Balanced Wealth Group LLC boosted its position in shares of Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock valued at $705,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMZN. Jefferies Financial Group cut their price objective on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Barclays lowered their price target on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Tigress Financial increased their target price on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Wells Fargo & Company decreased their price target on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. Finally, UBS Group reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $244.89.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer now owns 2,148,694 shares in the company, valued at $432,532,102.20. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,037 shares of company stock worth $20,531,075. 9.70% of the stock is owned by company insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $216.10 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a 50-day moving average of $196.38 and a two-hundred day moving average of $209.26. The stock has a market cap of $2.29 trillion, a P/E ratio of 39.08, a PEG ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.