Madison Wealth Management Buys 1,967 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Madison Wealth Management boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 666.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,262 shares of the e-commerce giant’s stock after acquiring an additional 1,967 shares during the period. Amazon.com accounts for about 1.8% of Madison Wealth Management’s holdings, making the stock its 16th biggest position. Madison Wealth Management’s holdings in Amazon.com were worth $4,410,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AMZN. Wealth Quarterback LLC bought a new stake in Amazon.com in the fourth quarter worth about $2,313,511,000. Norges Bank bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $8,070,972,000. Girard Partners LTD. raised its position in shares of Amazon.com by 8,783.7% in the first quarter. Girard Partners LTD. now owns 519,965 shares of the e-commerce giant’s stock valued at $12,121,000 after purchasing an additional 514,112 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $623,193,000. Finally, Parnassus Investments CA bought a new stake in shares of Amazon.com in the first quarter valued at approximately $639,204,000. 64.58% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:AMZN opened at $2,401.10 on Friday. The company has a fifty day moving average of $2,339.09 and a 200 day moving average of $1,993.99. Amazon.com, Inc. has a 52 week low of $1,626.03 and a 52 week high of $2,525.45. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1,202.24 billion, a P/E ratio of 114.72, a P/E/G ratio of 5.09 and a beta of 1.34.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, April 30th. The e-commerce giant reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $6.36 by ($1.35). Amazon.com had a net margin of 3.56% and a return on equity of 17.83%. The firm had revenue of $75.45 billion for the quarter, compared to the consensus estimate of $74.15 billion. During the same quarter in the prior year, the company earned $7.09 earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. As a group, analysts anticipate that Amazon.com, Inc. will post 19.75 EPS for the current year.

In other Amazon.com news, Director Patricia Q. Stonesifer sold 2,200 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the completion of the transaction, the director now directly owns 4,645 shares in the company, valued at approximately $10,820,248.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 352 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $2,300.19, for a total transaction of $809,666.88. Following the completion of the transaction, the senior vice president now owns 4,015 shares of the company’s stock, valued at $9,235,262.85. The disclosure for this sale can be found here. Insiders have sold a total of 9,497 shares of company stock valued at $21,605,827 over the last quarter. 16.10% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on AMZN. Raymond James boosted their price target on shares of Amazon.com from $2,400.00 to $2,525.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Credit Suisse Group lowered their price target on shares of Amazon.com from $2,800.00 to $2,760.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $2,650.00 to $2,800.00 and gave the company a “buy” rating in a research report on Friday, May 1st. China International Capital boosted their price target on shares of Amazon.com from $1,850.00 to $2,162.00 in a research report on Wednesday, May 6th. Finally, Bank of America boosted their price objective on shares of Amazon.com from $2,480.00 to $2,600.00 and gave the company a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and forty-six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $2,538.89.

Amazon.com Company Profile

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) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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