Pinnacle Wealth Management Advisory Group LLC Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Feb 28th, 2023

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 14.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 62,459 shares of the e-commerce giant’s stock after buying an additional 7,788 shares during the period. Amazon.com accounts for approximately 1.2% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 21st biggest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Amazon.com were worth $7,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgefront Capital LLC bought a new position in shares of Amazon.com during the 1st quarter valued at about $228,000. Krane Funds Advisors LLC boosted its holdings in shares of Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC bought a new position in shares of Amazon.com during the 1st quarter valued at about $258,000. My Personal CFO LLC bought a new position in shares of Amazon.com in the 1st quarter valued at about $261,000. Finally, Worth Asset Management LLC bought a new position in shares of Amazon.com in the 1st quarter valued at about $191,000. Institutional investors own 57.64% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 5,100 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the transaction, the chief executive officer now directly owns 124,180 shares in the company, valued at $13,837,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Adam Selipsky sold 5,100 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the transaction, the chief executive officer now directly owns 124,180 shares in the company, valued at $13,837,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $94.90, for a total transaction of $707,574.40. Following the transaction, the chief executive officer now owns 564,298 shares of the company’s stock, valued at $53,551,880.20. The disclosure for this sale can be found here. Insiders sold 67,394 shares of company stock worth $6,619,426 over the last three months. Company insiders own 12.70% of the company’s stock.

Amazon.com Trading Up 0.3 %

NASDAQ:AMZN opened at $93.76 on Tuesday. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $170.83. The firm has a fifty day simple moving average of $94.28 and a 200-day simple moving average of $105.50. 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 $960.78 billion, a P/E ratio of -349.84, a PEG ratio of 3.85 and a beta of 1.22.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative net margin of 0.53% and a positive return on equity of 5.33%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMZN. Piper Sandler increased their price target on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Evercore ISI increased their price target on shares of Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Telsey Advisory Group reduced their price objective on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $130.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Cowen increased their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have issued a buy rating to the company. According to data from MarketBeat.com, Amazon.com currently 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.