Abacus Planning Group Inc. Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Apr 2nd, 2023

Abacus Planning Group Inc. lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,465 shares of the e-commerce giant’s stock after selling 7,491 shares during the period. Amazon.com makes up about 3.0% of Abacus Planning Group Inc.’s holdings, making the stock its 8th biggest position. Abacus Planning Group Inc.’s holdings in Amazon.com were worth $10,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after buying an additional 12,456,995 shares in the last quarter. State Street Corp raised its position in shares of Amazon.com by 1.0% during the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after buying an additional 3,121,516 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares in the last quarter. FMR LLC raised its position in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after buying an additional 270,931,640 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Amazon.com by 1,867.0% during the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares in the last quarter. Institutional investors own 57.64% of the company’s stock.

Amazon.com Stock Up 1.3 %

Shares of Amazon.com stock opened at $103.29 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 stock has a market capitalization of $1.06 trillion, a PE ratio of -385.40, a price-to-earnings-growth ratio of 4.15 and a beta of 1.25. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83. The company has a 50-day simple moving average of $97.98 and a two-hundred day simple moving average of $99.46.

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 for the quarter, missing the consensus estimate 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 analysts’ expectations of $145.72 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts anticipate that Amazon.com, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMZN shares. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Amazon.com in a research report on Thursday, March 16th. Robert W. Baird lifted their target price on shares of Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Susquehanna lifted their target price on shares of Amazon.com from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Wolfe Research lifted their target price on shares of Amazon.com from $115.00 to $130.00 in a research report on Friday, February 3rd. Finally, Wedbush decreased their target price on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.93.

Insider Activity

In other news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction that occurred 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 directly 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. In related news, CEO Adam Selipsky sold 2,299 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the sale, the chief executive officer now directly owns 138,320 shares in the company, valued at $13,879,028.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction that occurred 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 owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The disclosure for this sale can be found here. Insiders sold 73,693 shares of company stock valued at $7,225,308 over the last three months. Insiders own 12.70% of the company’s stock.

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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