ACT Wealth Management LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,846 shares of the e-commerce giant’s stock after acquiring an additional 137 shares during the period. Amazon.com accounts for 0.2% of ACT Wealth Management LLC’s portfolio, making the stock its 25th largest position. ACT Wealth Management LLC’s holdings in Amazon.com were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Central Bank & Trust Co. grew its stake in Amazon.com by 4.4% during the 1st quarter. Central Bank & Trust Co. now owns 88,007 shares of the e-commerce giant’s stock worth $9,090,000 after buying an additional 3,691 shares during the last quarter. Fragasso Group Inc. grew its stake in Amazon.com by 19.2% during the 1st quarter. Fragasso Group Inc. now owns 82,530 shares of the e-commerce giant’s stock worth $8,525,000 after buying an additional 13,311 shares during the last quarter. Landmark Financial Advisors LLC grew its stake in Amazon.com by 6.6% during the 1st quarter. Landmark Financial Advisors LLC now owns 9,472 shares of the e-commerce giant’s stock worth $978,000 after buying an additional 584 shares during the last quarter. Venture Visionary Partners LLC grew its stake in Amazon.com by 5.5% during the 1st quarter. Venture Visionary Partners LLC now owns 155,208 shares of the e-commerce giant’s stock worth $16,031,000 after buying an additional 8,123 shares during the last quarter. Finally, Country Trust Bank grew its stake in Amazon.com by 1.2% during the 1st quarter. Country Trust Bank now owns 579,511 shares of the e-commerce giant’s stock worth $59,858,000 after buying an additional 6,812 shares during the last quarter. 56.67% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total transaction of $62,535.00. Following the completion of the sale, the chief executive officer now owns 151,780 shares of the company’s stock, valued at $18,983,124.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the sale, the chief executive officer now directly owns 151,780 shares of the company’s stock, valued at $18,983,124.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $102.25, for a total value of $409,000.00. Following the completion of the sale, the chief executive officer now directly owns 556,298 shares of the company’s stock, valued at $56,881,470.50. The disclosure for this sale can be found here. Insiders sold a total of 73,845 shares of company stock valued at $8,408,115 over the last quarter. 12.70% of the stock is owned by insiders.
Amazon.com Price Performance
Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 1.56 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts recently weighed in on AMZN shares. Bank of America boosted their target price on Amazon.com from $139.00 to $154.00 in a research note on Monday, June 12th. Credit Suisse Group cut their price objective on Amazon.com from $150.00 to $140.00 in a report on Tuesday, April 25th. Barclays cut their price objective on Amazon.com from $150.00 to $140.00 in a report on Friday, April 28th. Truist Financial increased their price objective on Amazon.com from $142.00 to $144.00 in a report on Wednesday, April 12th. Finally, Piper Jaffray Companies increased their price objective on Amazon.com from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.41.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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