BNC Wealth Management LLC Increases Its Holdings in Amazon.com, Inc.

BNC Wealth Management LLC has increased its investment in Amazon.com, Inc. (NASDAQ:AMZN) by 16.4% during the third quarter, as detailed in its latest filing with the SEC. The firm now owns a total of 90,389 shares of the well-known e-commerce company, following the purchase of an additional 12,705 shares within this timeframe. This investment in Amazon constitutes around 6.2% of BNC Wealth Management LLC's entire portfolio, making it their third largest investment. As per the latest SEC filing, the value of BNC Wealth Management LLC's stake in Amazon.com is approximately $16,842,000.

Other Institutional Investments in Amazon.com

Other institutional investors have also made adjustments to their positions in Amazon.com recently. WoodTrust Financial Corp raised its stake in Amazon by 4.3% during the third quarter, resulting in ownership of 115,618 shares valued at $21,543,000 after acquiring an additional 4,817 shares. Similarly, Bridgewater Advisors Inc. increased their stake by 3.9% during the same period, leading to ownership of 65,910 shares worth $12,578,000 following the addition of 2,489 shares. GGM Financials LLC made a significant jump by boosting its ownership in Amazon by 64.7%, now holding 2,413 shares valued at approximately $450,000 after adding 948 shares. Additionally, Malaga Cove Capital LLC raised its stake in Amazon by 3.0%, holding 44,423 shares worth about $8,277,000 after an increase of 1,312 shares. Advisors Management Group Inc. ADV also increased its investment in Amazon, boosting its stake by 20.0%, leading to ownership of 21,102 shares valued at around $3,932,000. Notably, institutional investors and hedge funds hold around 72.20% of Amazon's stock.

Recent Insider Transactions at Amazon.com

In related news, Jeff Bezos, the founder and CEO of Amazon, sold 2,996,362 shares of the company on November 8th. The shares were sold at an average price of $208.85, amounting to a total sale value of $625,790,203.70. After this transaction, Bezos retains direct ownership of 917,416,976 shares, valued approximately at $191.60 billion. This sale marks a reduction of 0.33% in his ownership stake. Additionally, Director Daniel P. Huttenlocher sold 1,237 shares at an average price of $199.06 on November 19th, bringing in a total of $246,237.22 from the sale. He now owns 24,912 shares, valued at about $4,958,982.72, reflecting a 4.73% decrease in his ownership. Over the last three months, insiders have sold a total of 6,034,534 shares worth approximately $1.25 billion, with insiders now holding 10.80% of the company's stock.

Amazon.com Stock Overview

The shares of Amazon (AMZN) opened at $227.46 on a recent Monday. The company holds a quick ratio of 0.87 and a current ratio of 1.09, with a debt-to-equity ratio of 0.21. Amazon.com has seen a 52-week low of $144.05 and a high of $231.20, achieving a market capitalization of $2.39 trillion. The company's price-to-earnings (P/E) ratio stands at 48.71, with a price-to-earnings growth (P/E/G) ratio of 1.54 and a beta of 1.16. Additionally, the 50-day moving average for Amazon's stock is $201.65 and the 200-day moving average is $189.78.

Amazon recently reported its quarterly earnings on October 31st, revealing earnings per share (EPS) of $1.43, exceeding the consensus estimate of $1.14 by $0.29. Revenue for the quarter was $158.88 billion, surpassing analysts' expectations of $157.28 billion. The company achieved a net margin of 8.04% and a return on equity of 22.41%, showing an 11.0% increase in year-over-year revenue. Analysts anticipate that Amazon.com, Inc. will record an EPS of approximately 5.29 for the current fiscal year.

Analysts Share Price Target Updates

Numerous research firms have recently updated their price targets for Amazon.com. Goldman Sachs increased their target price from $230.00 to $240.00, maintaining a 'buy' rating. Rosenblatt Securities also adjusted their price target upwards from $221.00 to $236.00 with a 'buy' rating. Similarly, UBS Group raised their target price from $220.00 to $223.00, and Truist Financial increased theirs from $265.00 to $270.00. Lastly, JMP Securities lifted their target from $265.00 to $285.00, designating the stock with a 'market outperform' rating. Currently, two analysts have assigned a hold rating, while forty-one have rated it a buy, and one has given it a strong buy rating. Data from MarketBeat indicates that Amazon has an average rating of 'Moderate Buy' and a consensus target price of $238.87.

About Amazon.com Inc.

Amazon.com, Inc. specializes in online and physical retail sales of consumer products, advertising, and subscription services on a global scale. The organization is divided into three segments: North America, International, and Amazon Web Services (AWS). They also produce and sell various electronic devices including Kindle e-readers, Fire tablets, Fire TVs, Echo smart speakers, and other media content.

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