AlphaCore Capital LLC Increases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Feb 28th, 2023

AlphaCore Capital LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 54.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,796 shares of the e-commerce giant’s stock after buying an additional 5,246 shares during the period. Amazon.com comprises about 0.8% of AlphaCore Capital LLC’s holdings, making the stock its 16th largest position. AlphaCore Capital LLC’s holdings in Amazon.com were worth $1,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AMZN. Fiduciary Planning LLC increased its stake in Amazon.com by 1.5% in the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after acquiring an additional 5 shares during the last quarter. HBC Financial Services PLLC increased its stake in Amazon.com by 0.8% in the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after acquiring an additional 5 shares during the last quarter. Meridian Investment Counsel Inc. boosted its holdings in shares of Amazon.com by 3.4% in the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after purchasing an additional 5 shares in the last quarter. Alterna Wealth Management Inc. boosted its holdings in shares of Amazon.com by 1.8% in the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after purchasing an additional 5 shares in the last quarter. Finally, Archetype Wealth Partners boosted its holdings in shares of Amazon.com by 3.7% in the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMZN shares. Roth Capital reiterated a “buy” rating on shares of Amazon.com in a report on Friday, February 3rd. New Street Research started coverage on Amazon.com in a report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price objective for the company. DA Davidson upped their price objective on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Rosenblatt Securities upped their price objective on Amazon.com from $103.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on Amazon.com from $130.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction 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 completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction 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 completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 6,704 shares of Amazon.com stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total value of $636,276.64. Following the completion of the sale, the senior vice president now directly owns 87,036 shares of the company’s stock, valued at approximately $8,260,586.76. 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 90 days. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Stock Up 0.3 %

AMZN stock opened at $93.76 on Tuesday. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $170.83. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $960.78 billion, a PE ratio of -349.84, a price-to-earnings-growth ratio of 3.85 and a beta of 1.22. The business has a 50 day moving average of $94.28 and a 200 day moving average of $105.50.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The company had revenue of $149.20 billion for the quarter, compared to the consensus estimate of $145.72 billion. During the same period last year, the business earned $1.39 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Amazon.com, Inc. will post 1.34 EPS for the current fiscal year.

About Amazon.com

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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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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