OLD Point Trust & Financial Services N A Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 1st, 2023

OLD Point Trust & Financial Services N A increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 161.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,405 shares of the e-commerce giant’s stock after purchasing an additional 9,505 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Amazon.com were worth $1,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kavar Capital Partners Group LLC increased its stake in shares of Amazon.com by 7.6% in the 1st quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after acquiring an additional 79 shares in the last quarter. IFM Investors Pty Ltd grew its stake 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 worth $237,686,000 after acquiring an additional 13,060 shares during the period. Ironwood Wealth Management LLC. grew its stake 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 worth $5,901,000 after acquiring an additional 15 shares during the period. Markel Corp grew its stake 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 worth $322,956,000 after acquiring an additional 550 shares during the period. Finally, Leelyn Smith LLC grew its stake 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 worth $8,870,000 after acquiring an additional 540 shares during the period. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $94.23 on Wednesday. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83. The firm has a 50 day simple moving average of $94.46 and a 200-day simple moving average of $105.15. The firm has a market cap of $965.60 billion, a PE 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 current ratio of 0.94 and a quick ratio of 0.72.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) 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 analysts’ expectations of $145.72 billion. Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, equities analysts expect that Amazon.com, Inc. will post 1.34 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction dated 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 owns 124,180 shares in the company, valued at approximately $13,837,377.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The disclosure for this sale can be found here. Insiders have sold 67,394 shares of company stock valued at $6,619,426 over the last ninety days. Corporate insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AMZN shares. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Amazon.com in a research note on Friday, February 3rd. Tigress Financial reissued a “buy” rating and issued a $192.00 price objective on shares of Amazon.com in a report on Thursday, February 9th. Credit Suisse Group raised their price objective on shares of Amazon.com from $142.00 to $171.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Moffett Nathanson assumed coverage on shares of Amazon.com in a report on Tuesday, November 15th. They issued an “outperform” rating and a $118.00 price objective on the stock. Finally, Piper Sandler raised their price objective on shares of Amazon.com from $119.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

About Amazon.com

(Get Rating)

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.