Amazon.com, Inc. (NASDAQ:AMZN) Position Boosted by Somerset Group LLC

Posted by Defense World Staff on Mar 1st, 2023

Somerset Group LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,467 shares of the e-commerce giant’s stock after buying an additional 150 shares during the quarter. Amazon.com makes up about 3.4% of Somerset Group LLC’s investment portfolio, making the stock its 9th largest position. Somerset Group LLC’s holdings in Amazon.com were worth $3,669,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its holdings in shares of Amazon.com by 4,540.0% in the second quarter. Iron Horse Wealth Management LLC now owns 232 shares of the e-commerce giant’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Wells Financial Advisors INC grew its holdings in shares of Amazon.com by 1,900.0% in the second quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock worth $30,000 after purchasing an additional 266 shares during the last quarter. Knott David M Jr bought a new position in shares of Amazon.com in the second quarter worth about $32,000. Laurel Wealth Planning LLC grew its holdings in shares of Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after purchasing an additional 304 shares during the last quarter. Finally, Baron Financial Group LLC grew its holdings in shares of Amazon.com by 1,900.0% in the second quarter. Baron Financial Group LLC now owns 360 shares of the e-commerce giant’s stock worth $38,000 after purchasing an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $94.23 on Wednesday. The company’s fifty day moving average price is $94.46 and its 200 day moving average price is $105.15. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83. The stock has a market capitalization of $965.60 billion, a P/E ratio of -351.59, a P/E/G ratio of 3.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced 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). The firm had revenue of $149.20 billion during the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.39 EPS. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research reports. Moffett Nathanson initiated coverage on shares of Amazon.com in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $118.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Amazon.com in a research note on Friday, February 3rd. DA Davidson upped their price objective on shares of Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Tigress Financial reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Amazon.com in a research note on Thursday, February 9th. Finally, UBS Group upped their price objective on shares of Amazon.com from $118.00 to $127.00 in a research note on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $102.90, for a total value of $411,600.00. Following the transaction, the chief executive officer now owns 529,435 shares in the company, valued at approximately $54,478,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the transaction, the chief executive officer now owns 529,435 shares in the company, valued at approximately $54,478,861.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the vice president now owns 119,780 shares in the company, valued at approximately $11,368,319.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,394 shares of company stock worth $6,619,426. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Company 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.