Welch Group LLC Has $14.05 Million Position in Amazon.com, Inc. $AMZN

Welch Group LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.2% in the first quarter, HoldingsChannel.com reports. The firm owned 67,464 shares of the e-commerce giant’s stock after buying an additional 2,068 shares during the period. Welch Group LLC’s holdings in Amazon.com were worth $14,051,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. MilWealth Group LLC increased its position in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in Amazon.com in the 4th quarter valued at about $45,000. Elkhorn Partners Limited Partnership lifted its position in Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC boosted its stake in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. boosted its stake in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial increased their price objective on Amazon.com from $310.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Morgan Stanley raised their target price on Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Stifel Nicolaus set a $319.00 target price on Amazon.com and gave the company a “buy” rating in a research report on Thursday, April 30th. DZ Bank upped their price target on Amazon.com from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, BNP Paribas Exane increased their price target on Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $312.79.

Amazon.com News Summary

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Amazon.com stock opened at $242.67 on Friday. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company’s 50 day moving average price is $254.57 and its two-hundred day moving average price is $234.57. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total value of $239,770.00. Following the completion of the transaction, the chief executive officer directly owned 484,527 shares in the company, valued at approximately $116,175,038.79. This represents a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 in the last ninety days. 8.90% of the stock is owned by corporate insiders.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.