McGlone Suttner Wealth Management Inc. Takes $426,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 30th, 2023

McGlone Suttner Wealth Management Inc. purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,076 shares of the e-commerce giant’s stock, valued at approximately $426,000.

Several other hedge funds have also recently bought and sold shares of AMZN. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 1.8% in 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 acquiring an additional 12,456,995 shares during the last quarter. State Street Corp boosted its position in shares of Amazon.com by 1.0% in 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 purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Amazon.com by 1,838.8% in 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 purchasing an additional 295,880,050 shares during the period. FMR LLC boosted its position in shares of Amazon.com by 1,792.4% in 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 purchasing an additional 270,931,640 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Amazon.com by 1,867.0% in 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 purchasing an additional 90,167,792 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Roth Capital reissued a “buy” rating on shares of Amazon.com in a research report on Friday, February 3rd. UBS Group increased their price objective on Amazon.com from $125.00 to $130.00 in a research report on Friday, April 28th. Rosenblatt Securities increased their price objective on Amazon.com from $106.00 to $111.00 in a research report on Friday, April 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Amazon.com in a research report on Thursday, April 20th. Finally, Wolfe Research increased their price objective on Amazon.com from $130.00 to $140.00 in a research report on Friday, April 28th. Three research analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.17.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was 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 in the company, valued at $52,555,952.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.60, for a total value of $358,360.00. Following the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $13,846,568. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,144 shares of company stock worth $8,405,887. 12.70% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $120.11 on Tuesday. The company has a market cap of $1.23 trillion, a P/E ratio of 285.98, a P/E/G ratio of 4.18 and a beta of 1.26. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $146.57. The business has a fifty day simple moving average of $106.06 and a 200-day simple moving average of $98.18.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm had revenue of $127.36 billion for the quarter, compared to analysts’ expectations of $124.57 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 1.57 EPS for the current year.

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.