QP Wealth Management LLC Has $3.04 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

QP Wealth Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,886.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,660 shares of the e-commerce giant’s stock after acquiring an additional 27,217 shares during the quarter. Amazon.com accounts for 4.2% of QP Wealth Management LLC’s portfolio, making the stock its 6th largest position. QP Wealth Management LLC’s holdings in Amazon.com were worth $3,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Gibson Wealth Advisors LLC acquired a new stake in Amazon.com in the fourth quarter worth about $33,000. MBM Wealth Consultants LLC boosted its holdings 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 worth $37,000 after buying an additional 4 shares during the last quarter. Swaine & Leidel Wealth Services LLC bought a new position in Amazon.com during the first quarter worth about $38,000. William Allan LLC bought a new position in shares of Amazon.com during the 4th quarter valued at about $47,000. Finally, Cardinal Capital Management Inc. bought a new position in shares of Amazon.com during the 1st quarter valued at about $49,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $175.00 price objective on shares of Amazon.com in a report on Friday, June 17th. JMP Securities lifted their price objective on Amazon.com from $172.50 to $180.00 and gave the company a “market outperform” rating in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $174.00 to $155.00 in a report on Thursday, July 21st. Robert W. Baird reiterated an “outperform” rating and set a $150.00 price objective on shares of Amazon.com in a report on Wednesday, September 7th. Finally, Barclays boosted their target price on Amazon.com from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and thirty-six have assigned a buy rating to the stock. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $176.61.

Amazon.com Price Performance

Shares of AMZN stock opened at $124.66 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.44. Amazon.com, Inc. has a twelve month low of $101.26 and a twelve month high of $188.11. The company has a market cap of $1.27 trillion, a P/E ratio of 111.75, a P/E/G ratio of 5.51 and a beta of 1.33. The business has a fifty day simple moving average of $129.52 and a 200 day simple moving average of $130.59.

Amazon.com (NASDAQ:AMZNGet Rating) last announced 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). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The business had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same quarter in the prior year, the company earned $0.76 earnings per share. Amazon.com’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total value of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at approximately $14,741,102.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total value of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at approximately $14,741,102.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 7,448 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $134.25, for a total value of $999,894.00. Following the completion of the transaction, the chief executive officer now directly owns 498,572 shares of the company’s stock, valued at approximately $66,933,291. The disclosure for this sale can be found here. Insiders sold a total of 70,628 shares of company stock valued at $9,802,599 in the last 90 days. Corporate insiders own 12.70% of the company’s stock.

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.

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

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