JPL Wealth Management LLC buys 3,076 shares of Amazon.com, Inc. (NASDAQ:AMZN)

VaselineSeptember 30, 2024

0 4 minutes read

JPL Wealth Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,695 shares of the e-commerce giant’s stock after acquiring an additional 3,076 shares during the quarter. Amazon.com makes up 2.0% of JPL Wealth Management LLC’s holdings, making the stock its 10th biggest holding. JPL Wealth Management LLC’s holdings in Amazon.com were worth $3,999,000 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 modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its stake in Amazon.com by 4.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 181,395 shares of the e-commerce giant’s stock worth $27,561,000 after which acquired another 7,347 shares during that period. Edgemoor Investment Advisors Inc. boosted its holdings in Amazon.com by 1.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 174,454 shares of the e-commerce giant’s stock valued at $26,507,000 after purchasing an additional 3,042 shares in the last quarter. Josh Arnold Investment Consultant LLC boosted its holdings in Amazon.com by 1.2% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 119,037 shares of the e-commerce giant’s stock worth $18,086,000 after acquiring an additional 1,430 shares during the period. Integrity Financial Corp WA boosted its holdings in Amazon.com by 3.5% in the fourth quarter. Integrity Financial Corp WA now owns 8,604 shares of the e-commerce giant’s stock valued at $1,307,000 after buying an additional 293 shares during the last quarter. Finally, Rooted Wealth Advisors Inc. boosted its stake in shares of Amazon.com by 10.7% during the 4th quarter.Rooted Wealth Advisors Inc. now owns 7,145 shares of the e-commerce giant’s stock worth $1,086,000 after acquiring an additional 693 shares in the last quarter. 72.20% of the shares are currently owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

Several research analysts recently issued reports on AMZN shares. Morgan Stanley cut their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. UBS Group upped their target price on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a report on Friday, August 2. One research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $222.84, based on data from MarketBeat.

Want more great investment ideas?

Check out our latest research report on Amazon.com

Amazon.com Price Performance

Shares of AMZN stock opened at $187.97 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88, and a current ratio of 1.10. The firm has a market cap of $1.96 trillion, a PE ratio of 52.65, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. it has a twelve month low of $118.35 and a twelve month high of $201.20. The company’s 50-day moving average price is $178.92 and its 200-day moving average price is $182.68.

Amazon.com (NASDAQ:AMZN – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share 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 company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. As a group, research analysts expect Amazon.com, Inc. to post 4.86 EPS for the current fiscal year.

Insider buying and selling on Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold a total of 6,098,297 shares of company stock worth $1,219,443,957 over the last ninety days. Company insiders own 10.80% of the company’s shares.

About Amazon.com

(Free report)

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