BNC Wealth Management LLC Increases Stake in Amazon.com, Inc. by 16.4%

BNC Wealth Management LLC has recently enhanced its investment in Amazon.com, Inc. (NASDAQ:AMZN) by 16.4% during the third quarter, as reflected in its latest filing with the SEC. Following the acquisition of an additional 12,705 shares during this period, the firm now holds a total of 90,389 shares in the e-commerce giant. This investment in Amazon constitutes around 6.2% of BNC Wealth Management's overall portfolio, making it their third largest holding. The value of BNC Wealth Management LLC's holdings in Amazon was reported to be approximately $16,842,000 according to their most recent SEC submission.

Other Institutional Investments in Amazon

Several other institutional investors have also been active in the Amazon stock market, adjusting their holdings. For instance, WoodTrust Financial Corp raised its stake in Amazon by 4.3% in the third quarter, bringing its total to 115,618 shares worth approximately $21,543,000 after acquiring an additional 4,817 shares. Additionally, Bridgewater Advisors Inc. increased its position by 3.9%, owning 65,910 shares valued at $12,578,000 after purchasing 2,489 shares. GGM Financials LLC saw a substantial boost, raising its stake by 64.7%, now holding 2,413 shares worth about $450,000. Similarly, Malaga Cove Capital LLC increased its investment by 3.0%, commanding 44,423 shares valued at $8,277,000 after an acquisition of 1,312 shares. Furthermore, Advisors Management Group Inc. ADV enhanced its holdings by 20.0%, resulting in 21,102 shares worth approximately $3,932,000 after buying 3,524 additional shares. Overall, institutional investors and hedge funds account for about 72.20% of Amazon's stock ownership.

Insider Transactions at Amazon.com

In related news, notable insider transactions have occurred at Amazon. On November 8, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon's stock at an average price of $208.85, totaling over $625 million. Following this sale, Bezos continues to hold a substantial 917,416,976 shares of Amazon, equating to around $191.6 billion. This sale represents a slight decrease of 0.33% in his ownership of the stock. Additionally, Director Daniel P. Huttenlocher sold 1,237 shares on November 19 at an average price of $199.06, amounting to a total of $246,237.22. His ownership was reduced by 4.73% post-sale, and he now holds approximately 24,912 shares valued at nearly $5 million. Within the last three months, insiders have sold a total of 6,034,534 shares valued at approximately $1.25 billion, with insiders collectively owning 10.80% of the company’s stock.

A Snapshot of Amazon.com Stock Performance

The shares of Amazon (AMZN) opened at $227.46 on a recent Monday and exhibit a quick ratio of 0.87, along with a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Over the past 52 weeks, the stock reached a low of $144.05 and a high of $231.20, with a market capitalization of $2.39 trillion. The company has a PE ratio of 48.71 and a P/E/G ratio of 1.54, with a beta of 1.16. Currently, the 50-day moving average stands at $201.65, while the 200-day moving average is recorded at $189.78.

Amazon.com recently announced its quarterly earnings on October 31, reporting earnings per share (EPS) of $1.43, surpassing the consensus estimate of $1.14 by $0.29. During this quarter, the company's revenue reached $158.88 billion, beating analysts' expectations of $157.28 billion. Amazon achieved a net margin of 8.04% and a return on equity of 22.41%. Year-over-year, the revenue increased by 11.0%. In the same period last year, the company posted an EPS of $0.85. Analysts presently predict that Amazon.com, Inc. will post an EPS of 5.29 for the current fiscal year.

Analysts Adjust Price Targets for Amazon.com

In response to Amazon's performance, various research firms have updated their ratings and price targets for the stock. The Goldman Sachs Group recently raised its target price from $230.00 to $240.00 while maintaining a “buy” rating. Similarly, Rosenblatt Securities adjusted their target from $221.00 to $236.00. UBS Group increased its price target from $220.00 to $223.00. Truist Financial and JMP Securities also raised their prices from $265.00 to $270.00 and from $265.00 to $285.00, respectively, with both maintaining “buy” ratings. Among analysts, two have assigned a hold rating, forty-one have given buy ratings, and one has issued a strong buy rating. MarketBeat data shows an average rating of “Moderate Buy” and a consensus target price of $238.87.

About Amazon.com, Inc.

Amazon.com, Inc. is engaged in retail sales of consumer products, advertising, and subscription services through online and physical stores. The company operates through three primary segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells electronic devices like Kindle, Fire tablets, and Echo, while also developing media content.

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