CWA Asset Management Group LLC Sells 1,387 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 19th, 2023

CWA Asset Management Group LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 178,895 shares of the e-commerce giant’s stock after selling 1,387 shares during the period. Amazon.com comprises 1.2% of CWA Asset Management Group LLC’s portfolio, making the stock its 15th largest holding. CWA Asset Management Group LLC’s holdings in Amazon.com were worth $15,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMZN. State Street Corp lifted its stake in shares of Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after buying an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after buying an additional 295,880,050 shares in the last quarter. FMR LLC lifted its stake in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after buying an additional 270,931,640 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Amazon.com by 1,867.0% in the second quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock worth $10,089,669,000 after buying an additional 90,167,792 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Amazon.com by 1,944.4% during the second quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after purchasing an additional 57,043,701 shares during the period. Institutional investors own 57.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMZN. UBS Group increased their price objective on shares of Amazon.com from $118.00 to $127.00 in a research report on Friday, February 3rd. Tigress Financial restated a “buy” rating and set a $192.00 price objective on shares of Amazon.com in a research report on Thursday, February 9th. Rosenblatt Securities increased their price objective on shares of Amazon.com from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Benchmark increased their price objective on shares of Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Finally, Susquehanna increased their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Friday, February 3rd. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.72.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $98.95 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. The firm has a fifty day moving average price of $97.01 and a 200 day moving average price of $101.53. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of -369.20, a P/E/G ratio of 3.97 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its earnings results 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 company had revenue of $149.20 billion for the quarter, compared to the consensus estimate of $145.72 billion. During the same quarter in the prior year, the company posted $1.39 EPS. Amazon.com’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling 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 completion of the transaction, the vice president now owns 119,780 shares in the company, valued at $11,368,319.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the vice president now owns 119,780 shares in the company, valued at $11,368,319.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total transaction of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The disclosure for this sale can be found here. Insiders sold 71,394 shares of company stock worth $6,994,626 over the last 90 days. 12.70% of the stock is owned by insiders.

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.