Aviance Capital Partners LLC Sells 5,067 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Feb 25th, 2023

Aviance Capital Partners LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,573 shares of the e-commerce giant’s stock after selling 5,067 shares during the quarter. Amazon.com accounts for approximately 1.3% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 13th largest holding. Aviance Capital Partners LLC’s holdings in Amazon.com were worth $5,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. Kavar Capital Partners Group LLC raised its holdings in shares of Amazon.com by 7.6% in the first quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock valued at $3,654,000 after acquiring an additional 79 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Amazon.com by 21.8% in the first quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock valued at $237,686,000 after acquiring an additional 13,060 shares in the last quarter. Ironwood Wealth Management LLC. raised its holdings in shares of Amazon.com by 0.8% in the first quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock valued at $5,901,000 after acquiring an additional 15 shares in the last quarter. Markel Corp raised its holdings in shares of Amazon.com by 0.6% in the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock valued at $322,956,000 after acquiring an additional 550 shares in the last quarter. Finally, Leelyn Smith LLC raised its holdings in shares of Amazon.com by 24.8% in the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock valued at $8,870,000 after acquiring an additional 540 shares in the last quarter. 57.64% of the stock is currently owned by institutional investors.

Amazon.com Trading Down 2.4 %

Shares of NASDAQ:AMZN opened at $93.50 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $958.12 billion, a PE ratio of -348.87, a PEG ratio of 3.82 and a beta of 1.22. The business has a 50 day moving average of $94.10 and a two-hundred day moving average of $106.30. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.12). The business had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. As a group, analysts forecast that Amazon.com, Inc. will post 1.38 EPS for the current year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 7,456 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.90, for a total transaction of $707,574.40. Following the completion of the transaction, the chief executive officer now directly owns 564,298 shares of the company’s stock, valued at approximately $53,551,880.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.90, for a total transaction of $707,574.40. Following the completion of the sale, the chief executive officer now directly owns 564,298 shares in the company, valued at $53,551,880.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total value of $332,185.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The disclosure for this sale can be found here. Insiders sold a total of 67,394 shares of company stock valued at $6,619,426 in the last three months. 12.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMZN. UBS Group lifted their price objective on Amazon.com from $118.00 to $127.00 in a report on Friday, February 3rd. Citigroup decreased their price objective on Amazon.com from $185.00 to $145.00 and set a “buy” rating for the company in a report on Friday, October 28th. Cowen lifted their target price on Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft cut their target price on Amazon.com from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Finally, DA Davidson lifted their target price on Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $144.87.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.