Harbour Wealth Management Group Inc. Acquires Shares of 4,843 Amazon.com, Inc. $AMZN

Harbour Wealth Management Group Inc. acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,843 shares of the e-commerce giant’s stock, valued at approximately $1,118,000. Amazon.com accounts for about 0.9% of Harbour Wealth Management Group Inc.’s investment portfolio, making the stock its 26th largest position.

Other institutional investors have also made changes to their positions in the company. Lifelong Wealth Advisors Inc. lifted its holdings in Amazon.com by 2.4% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock worth $402,000 after buying an additional 41 shares in the last quarter. Financial Connections Group Inc. grew its stake in shares of Amazon.com by 2.6% during the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock valued at $376,000 after acquiring an additional 42 shares in the last quarter. Marquette Asset Management LLC increased its position in shares of Amazon.com by 5.1% during the fourth quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock worth $205,000 after acquiring an additional 43 shares during the last quarter. Western Financial Corp CA increased its position in shares of Amazon.com by 1.5% during the fourth quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant’s stock worth $710,000 after acquiring an additional 44 shares during the last quarter. Finally, Navalign LLC lifted its stake in shares of Amazon.com by 0.3% in the fourth quarter. Navalign LLC now owns 13,349 shares of the e-commerce giant’s stock worth $3,081,000 after acquiring an additional 44 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of AMZN opened at $244.39 on Friday. The firm has a market cap of $2.63 trillion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.78 and a beta of 1.44. The stock has a 50 day moving average of $256.04 and a 200-day moving average of $234.05. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 EPS. As a group, analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMZN. Susquehanna reissued a “positive” rating and issued a $325.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Barclays reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Tuesday, June 9th. DA Davidson increased their target price on Amazon.com from $175.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. UBS Group set a $315.00 price target on shares of Amazon.com in a research report on Monday, June 1st. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Amazon.com in a research note on Tuesday. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.78.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the transaction, the chief executive officer directly owned 485,527 shares in the company, valued at approximately $129,242,432.13. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock valued at $51,614,434 in the last ninety days. 8.90% of the stock is owned by insiders.

Key Headlines Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon is exploring selling Trainium AI chips to external data-center customers, which could open a new revenue stream and strengthen its position in AI infrastructure. Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD
• Positive Sentiment: Amazon’s planned $10 billion Missouri data center buildout underscores rising AI infrastructure demand and suggests stronger AWS growth ahead. Should Amazon’s US$10 Billion Missouri AI Bet and Trainium Chip Sales Shift AMZN’s Cloud Narrative?
• Positive Sentiment: Bank of America reiterated a Buy rating and a $310 price target, framing Alexa+ and Prime Day as potential catalysts for adoption and sales growth. Amazon’s Alexa AI Could Be The Real Prime Day Winner: Analyst
• Positive Sentiment: Prime Day is expected to generate nearly $22 billion in gross merchandise value, offering a near-term retail lift and a showcase for Amazon’s AI shopping tools. Amazon Prime Day expected to generate nearly $22B in sales
• Positive Sentiment: Alexa+ is expanding internationally, including full rollout in Canada and availability in Brazil, which supports Amazon’s consumer AI monetization story. Here’s Why Amazon.com, Inc. (AMZN) is a Top Growth Stock to Buy According to Ray Dalio’s Bridgewater
• Positive Sentiment: Amazon’s AWS unit won new business as Zelis selected AWS to automate healthcare pricing and payments, showing continued enterprise cloud momentum. Zelis Picks AWS to Automate Healthcare Pricing and Payments

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.