Adell Harriman & Carpenter Inc. Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by MarketBeat News on Aug 1st, 2022

Adell Harriman & Carpenter Inc. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,127 shares of the e-commerce giant’s stock after acquiring an additional 312 shares during the period. Amazon.com accounts for 3.2% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 5th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Amazon.com were worth $33,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in AMZN. Stuart Chaussee & Associates Inc. purchased a new stake in Amazon.com during the fourth quarter valued at approximately $27,000. Gibson Wealth Advisors LLC purchased a new stake in Amazon.com during the fourth quarter valued at approximately $33,000. Leverty Financial Group LLC purchased a new stake in Amazon.com during the fourth quarter valued at approximately $36,000. MBM Wealth Consultants LLC lifted its position in Amazon.com by 57.1% during the fourth quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock valued at $37,000 after acquiring an additional 4 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Amazon.com during the fourth quarter valued at approximately $39,000. 72.51% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 173 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total transaction of $375,275.06. Following the completion of the sale, the vice president now owns 5,989 shares in the company, valued at approximately $12,991,458.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP David Zapolsky sold 418 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $906,733.96. Following the completion of the sale, the senior vice president now owns 3,537 shares in the company, valued at approximately $7,672,531.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 173 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total transaction of $375,275.06. Following the completion of the sale, the vice president now owns 5,989 shares of the company’s stock, valued at approximately $12,991,458.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,803 shares of company stock worth $10,528,337. 12.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMZN shares. Royal Bank of Canada decreased their price target on shares of Amazon.com from $194.00 to $175.00 in a report on Friday, April 29th. Needham & Company LLC decreased their price target on shares of Amazon.com from $207.50 to $175.00 in a report on Friday, April 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Amazon.com from $155.00 to $175.00 and gave the stock a “maintains” rating in a report on Friday. Tigress Financial reaffirmed a “buy” rating and issued a $232.00 price target on shares of Amazon.com in a report on Wednesday, June 29th. Finally, Stifel Nicolaus raised their price target on shares of Amazon.com from $185.00 to $200.00 and gave the stock a “maintains” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $179.45.

Amazon.com Trading Up 10.4 %

Shares of AMZN stock opened at $134.95 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.96. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 65.15, a price-to-earnings-growth ratio of 4.38 and a beta of 1.25. The company has a 50 day moving average price of $114.13 and a 200 day moving average price of $134.90. Amazon.com, Inc. has a fifty-two week low of $101.26 and a fifty-two week high of $188.11.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The company had revenue of $121.23 billion for the quarter, compared to analysts’ expectations of $119.16 billion. Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities research analysts predict that Amazon.com, Inc. will post 1.12 EPS for the current fiscal year.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.