TPB Wealth Advisors Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Mar 16th, 2023

TPB Wealth Advisors reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,640 shares of the e-commerce giant’s stock after selling 1,017 shares during the period. TPB Wealth Advisors’ holdings in Amazon.com were worth $298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Kavar Capital Partners Group LLC raised its holdings in 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 valued at $3,654,000 after buying an additional 79 shares during the period. IFM Investors Pty Ltd grew its position in Amazon.com by 21.8% in the 1st 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. grew its position in Amazon.com by 0.8% in the 1st 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 grew its position in Amazon.com by 0.6% in the 1st 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 grew its position in Amazon.com by 24.8% in the 1st 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 hedge funds and other institutional investors.

Amazon.com Trading Up 1.4 %

Shares of AMZN stock opened at $96.20 on Thursday. The business’s fifty day moving average price is $96.42 and its 200 day moving average price is $101.95. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83. The firm has a market capitalization of $985.79 billion, a PE ratio of -356.30, a P/E/G ratio of 3.74 and a beta of 1.25. 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 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). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The business had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same period in the prior year, the company earned $1.39 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 1.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer lifted their target price on Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Credit Suisse Group lifted their target price on Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Evercore ISI boosted their price objective on Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Wedbush lowered their price objective on Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Finally, Barclays boosted their price objective on Amazon.com from $130.00 to $150.00 in a research report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $144.87.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’s 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 of the company’s stock, valued at $54,478,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of the company’s 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 sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $102.90, for a total value of $411,600.00. Following the completion of the sale, the chief executive officer now directly owns 529,435 shares in the company, valued at approximately $54,478,861.50. The disclosure for this sale can be found here. Insiders have sold 71,394 shares of company stock valued at $6,994,626 over the last quarter. Company 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.

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

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