Modern Wealth Management LLC Acquires 35,213 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Modern Wealth Management LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 97.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,493 shares of the e-commerce giant's stock after acquiring an additional 35,213 shares during the period. Modern Wealth Management LLC's holdings in Amazon.com were worth $16,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMZN. Accordant Advisory Group Inc increased its stake in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock worth $28,000 after buying an additional 25,581 shares during the last quarter. Quattro Financial Advisors LLC raised its stake in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after buying an additional 45 shares during the period. Compass Planning Associates Inc acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $51,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMZN shares. Morgan Stanley cut their price target on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wedbush reiterated an "outperform" rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Bank of America cut their price objective on shares of Amazon.com from $257.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Thursday, February 13th. Finally, Telsey Advisory Group dropped their price target on Amazon.com from $275.00 to $235.00 and set an "outperform" rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.56.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $186.54 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.98 trillion, a PE ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.39. The firm has a fifty day simple moving average of $194.27 and a 200 day simple moving average of $207.70. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,798 shares of company stock worth $23,341,803. Corporate insiders own 10.80% of the company's stock.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

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