Garrett Wealth Advisory Group LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Garrett Wealth Advisory Group LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 659.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,480 shares of the e-commerce giant's stock after buying an additional 9,100 shares during the period. Amazon.com makes up about 0.7% of Garrett Wealth Advisory Group LLC's holdings, making the stock its 20th biggest holding. Garrett Wealth Advisory Group LLC's holdings in Amazon.com were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Amazon.com during the 4th quarter valued at $17,700,551,000. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant's stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. Swedbank AB bought a new stake in Amazon.com during the 1st quarter valued at $2,239,757,000. Capital World Investors raised its holdings in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant's stock valued at $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant's stock valued at $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

AMZN stock traded down $6.50 during midday trading on Friday, reaching $171.39. The stock had a trading volume of 41,140,309 shares, compared to its average volume of 42,515,004. The company's fifty day simple moving average is $181.54 and its 200 day simple moving average is $181.18. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.78 trillion, a price-to-earnings ratio of 48.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, sell-side analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares of the company's stock, valued at $101,866,390.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the company's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company's stock, valued at $101,866,390.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Amazon.com from $220.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Needham & Company LLC upped their price objective on shares of Amazon.com from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on shares of Amazon.com from $232.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, August 26th. TD Cowen upped their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Finally, TD Securities upped their price objective on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of "Buy" and a consensus price target of $222.49.

Amazon.com 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.