Family Legacy Inc. Invests $609,000 in Amazon.com (AMZN)
Family Legacy Inc. acquired a new stake in shares of Amazon.com (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 521 shares of the e-commerce giant’s stock, valued at approximately $609,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Kovack Advisors Inc. acquired a new position in Amazon.com during the 4th quarter worth about $9,772,000. Peregrine Asset Advisers Inc. lifted its holdings in Amazon.com by 124.4% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 6,639 shares of the e-commerce giant’s stock worth $7,764,000 after buying an additional 3,680 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of Amazon.com by 3.3% in the 4th quarter. Picton Mahoney Asset Management now owns 29,645 shares of the e-commerce giant’s stock valued at $34,668,000 after purchasing an additional 935 shares during the period. Arlington Financial Advisors LLC acquired a new position in shares of Amazon.com in the 4th quarter valued at about $4,000,000. Finally, Autus Asset Management LLC lifted its stake in shares of Amazon.com by 5.8% in the 4th quarter. Autus Asset Management LLC now owns 2,735 shares of the e-commerce giant’s stock valued at $3,199,000 after purchasing an additional 149 shares during the period. 60.24% of the stock is currently owned by institutional investors.
AMZN has been the topic of a number of recent analyst reports. JPMorgan Chase reissued a “buy” rating and issued a $1,385.00 price objective (up from $1,375.00) on shares of Amazon.com in a research note on Wednesday, January 10th. Wolfe Research raised Amazon.com from a “peer perform” rating to an “outperform” rating in a research note on Friday, February 23rd. UBS boosted their price objective on Amazon.com to $1,760.00 and gave the company a “buy” rating in a research note on Friday, March 9th. They noted that the move was a valuation call. BMO Capital Markets boosted their price objective on Amazon.com to $1,600.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Finally, Barclays reissued an “overweight” rating and issued a $1,580.00 price objective on shares of Amazon.com in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, fifty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,602.51.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, April 26th. The e-commerce giant reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $1.47. The firm had revenue of $51.04 billion during the quarter, compared to analyst estimates of $49.94 billion. Amazon.com had a return on equity of 9.23% and a net margin of 1.71%. The company’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 EPS. analysts expect that Amazon.com will post 8.65 EPS for the current year.
In other Amazon.com news, CEO Jeffrey A. Wilke sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $1,518.47, for a total transaction of $379,617.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey A. Wilke sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $1,577.85, for a total value of $788,925.00. Following the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $15,778,500. The disclosure for this sale can be found here. Insiders have sold a total of 6,214 shares of company stock valued at $9,251,120 over the last three months. Corporate insiders own 17.70% of the company’s stock.
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 vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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