Providence Wealth Advisors LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Providence Wealth Advisors LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,278 shares of the e-commerce giant’s stock after purchasing an additional 369 shares during the quarter. Amazon.com comprises 2.2% of Providence Wealth Advisors LLC’s portfolio, making the stock its 12th largest position. Providence Wealth Advisors LLC’s holdings in Amazon.com were worth $3,051,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Icon Wealth Advisors LLC grew 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 valued at $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMZN. Roth Mkm raised their target price on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Scotiabank raised their target price on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Morgan Stanley upped their price target on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Moffett Nathanson lifted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Stock Performance

AMZN stock opened at $222.13 on Thursday. The company has a 50-day simple moving average of $215.07 and a 200 day simple moving average of $194.92. The company has a market capitalization of $2.34 trillion, a P/E ratio of 47.57, a PEG ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a fifty-two week low of $148.21 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

About Amazon.com

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.