Amazon.com, Inc. (NASDAQ:AMZN) is Pinnacle Family Advisors LLC’s 5th Largest Position

Posted by on Jun 7th, 2023

Pinnacle Family Advisors LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,892 shares of the e-commerce giant’s stock after selling 3,006 shares during the period. Amazon.com makes up 5.0% of Pinnacle Family Advisors LLC’s portfolio, making the stock its 5th largest holding. Pinnacle Family Advisors LLC’s holdings in Amazon.com were worth $6,963,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 lifted its holdings in 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 lifted its holdings in 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 lifted its holdings in 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 lifted its holdings in 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. 57.64% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $126.61 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92. The company has a fifty day moving average of $109.06 and a two-hundred day moving average of $99.29. The stock has a market capitalization of $1.30 trillion, a PE ratio of 301.45, a P/E/G ratio of 2.41 and a beta of 1.26. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, research analysts forecast that Amazon.com, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total value 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 available through this link. In other news, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total value 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 available through this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $120.61, for a total transaction of $482,440.00. Following the completion of the sale, the chief executive officer now owns 568,301 shares of the company’s stock, valued at $68,542,783.61. The disclosure for this sale can be found here. Insiders sold 75,144 shares of company stock worth $8,513,127 over the last three months. Insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Amazon.com from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Monday, April 3rd. Rosenblatt Securities boosted their price target on shares of Amazon.com from $106.00 to $111.00 in a report on Friday, April 28th. Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price target on shares of Amazon.com in a report on Thursday, April 20th. StockNews.com assumed coverage on shares of Amazon.com in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Wolfe Research boosted their price target on shares of Amazon.com from $130.00 to $140.00 in a report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.52.

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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