Avitas Wealth Management LLC Has $23.73 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

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Avitas Wealth Management LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 69.5% in the 1st quarter, Holdings Channel reports. The fund owned 7,280 shares of the e-commerce giant’s stock after purchasing an additional 2,985 shares during the quarter. Amazon.com comprises 4.3% of Avitas Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding. Avitas Wealth Management LLC’s holdings in Amazon.com were worth $23,732,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Capital Wealth Alliance LLC increased its position in shares of Amazon.com by 5.2% in the 4th quarter. Capital Wealth Alliance LLC now owns 81 shares of the e-commerce giant’s stock valued at $270,000 after purchasing an additional 4 shares during the last quarter. Lipe & Dalton increased its position in shares of Amazon.com by 4.0% in the 4th quarter. Lipe & Dalton now owns 104 shares of the e-commerce giant’s stock valued at $347,000 after purchasing an additional 4 shares during the last quarter. Mokosak Advisory Group LLC increased its position in shares of Amazon.com by 5.8% in the 4th quarter. Mokosak Advisory Group LLC now owns 73 shares of the e-commerce giant’s stock valued at $244,000 after purchasing an additional 4 shares during the last quarter. Palisades Hudson Asset Management L.P. grew its position in shares of Amazon.com by 0.6% in the 4th quarter. Palisades Hudson Asset Management L.P. now owns 673 shares of the e-commerce giant’s stock valued at $2,244,000 after buying an additional 4 shares during the last quarter. Finally, BHK Investment Advisors LLC grew its position in shares of Amazon.com by 1.1% in the 4th quarter. BHK Investment Advisors LLC now owns 375 shares of the e-commerce giant’s stock valued at $1,250,000 after buying an additional 4 shares during the last quarter. 72.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Monness Crespi & Hardt dropped their target price on shares of Amazon.com from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, April 29th. Truist Financial reaffirmed a “buy” rating and issued a $175.00 target price on shares of Amazon.com in a research report on Friday, June 17th. Royal Bank of Canada lowered their price objective on shares of Amazon.com from $194.00 to $175.00 in a research report on Friday, April 29th. Benchmark lowered their price objective on shares of Amazon.com from $200.00 to $185.00 in a research report on Friday, April 29th. Finally, Robert W. Baird lowered their price objective on shares of Amazon.com from $200.00 to $187.50 in a research report on Friday, April 29th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and forty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.52.

Insider Buying and Selling

In other Amazon.com news, VP Shelley Reynolds sold 173 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $2,169.22, for a total transaction of $375,275.06. Following the transaction, the vice president now owns 5,989 shares in the company, valued at $12,991,458.58. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 1,181 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $2,262.00, for a total value of $2,671,422.00. Following the sale, the chief executive officer now owns 92,781 shares in the company, valued at approximately $209,870,622. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders sold a total of 4,803 shares of company stock worth $10,528,337 over the last three months. 12.70% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $120.97 on Thursday. Amazon.com, Inc. has a twelve month low of $101.26 and a twelve month high of $188.11. The firm has a market cap of $1.23 trillion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 4.13 and a beta of 1.25. 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 business has a fifty day moving average of $113.29 and a 200-day moving average of $135.78.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its earnings results on Thursday, April 28th. The e-commerce giant reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $116.44 billion during the quarter, compared to analyst estimates of $116.52 billion. Amazon.com had a net margin of 4.48% and a return on equity of 21.60%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. On average, equities research analysts predict that Amazon.com, Inc. will post 1.12 EPS for the current fiscal year.

Amazon.com Company Profile

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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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