BNC Wealth Management LLC Increases Stake 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 noted in its latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 12,705 shares, the firm now holds a total of 90,389 shares in this leading e-commerce company. This investment represents approximately 6.2% of BNC Wealth Management LLC's entire portfolio, making Amazon.com its third largest holding. The firm's investments in Amazon.com are valued at around $16,842,000 based on its most recent disclosure to the SEC.

Changes in Stake by Other Investors

Other institutional investors have also adjusted their positions in Amazon.com recently. WoodTrust Financial Corp raised its stake in Amazon.com by 4.3% during the third quarter, bringing its total ownership to 115,618 shares worth $21,543,000 after acquiring an additional 4,817 shares. Similarly, Bridgewater Advisors Inc. increased its stake by 3.9%, now owning 65,910 shares valued at $12,578,000 after adding 2,489 shares in the last quarter. GGM Financials LLC saw a substantial increase of 64.7% in its ownership, now holding 2,413 shares worth $450,000 following the purchase of 948 additional shares. Also, Malaga Cove Capital LLC raised its stake by 3.0%, owning 44,423 shares valued at $8,277,000 after an increase of 1,312 shares. Lastly, Advisors Management Group Inc. ADV elevated its stake by 20.0%, owning 21,102 shares now worth $3,932,000 after an addition of 3,524 shares. Currently, 72.20% of Amazon's stock is owned by institutional investors and hedge funds.

Insider Trading Activities

In recent news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com on November 8. The shares were sold at an average price of $208.85, amounting to a total of approximately $625.79 million. Following this transaction, Bezos now owns 917,416,976 shares of the company, which are valued at around $191.60 billion, marking a 0.33% decrease in his ownership. This transaction was officially disclosed in a filing with the SEC. Additionally, Director Daniel P. Huttenlocher sold 1,237 shares on November 19, totaling approximately $246,237.22, which is a decrease of 4.73% in his ownership. Over the past three months, insiders have sold a total of 6,034,534 shares valued at approximately $1.25 billion, and insiders currently hold 10.80% of the company's total shares.

Amazon.com Stock Overview

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

Amazon.com released its quarterly earnings on October 31, reporting $1.43 earnings per share (EPS) for the quarter, exceeding the consensus estimate of $1.14 by $0.29. The total revenue for the quarter was $158.88 billion, surpassing analysts' expectations of $157.28 billion. The company's net margin for the quarter was 8.04%, with a 22.41% return on equity. This represents an 11.0% increase in revenue year-over-year, compared to the $0.85 EPS for the same period last year. Analysts predict that Amazon.com, Inc. will report an EPS of 5.29 for the current fiscal year.

Analysts' New Price Targets for Amazon

Several research firms have revised their price targets for Amazon.com stock. The Goldman Sachs Group raised their target from $230.00 to $240.00 and issued a "buy" rating on November 1. Rosenblatt Securities adjusted their price target upward from $221.00 to $236.00, also giving a "buy" rating on the same date. UBS Group raised their price target from $220.00 to $223.00, maintaining their "buy" rating. Truist Financial increased their price target from $265.00 to $270.00, while JMP Securities raised theirs from $265.00 to $285.00, with a "market outperform" rating. Currently, two analysts have assigned holding ratings, while forty-one analysts have issued buy ratings, and one has given a strong buy rating, leading to an overall average rating of "Moderate Buy" and a consensus target price of $238.87 according to MarketBeat data.

About Amazon.com, Inc.

Amazon.com, Inc. is involved in the retail sale of consumer products through both online and physical stores globally. The company operates through three main segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells various electronic devices, such as Kindle, Fire tablets, Fire TVs, Echo smart speakers, Ring, Blink, and eero, and develops and produces media content.

Amazon, Investment, Stake