Financial Advocates Investment Management Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 15th, 2023

Financial Advocates Investment Management grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,684 shares of the e-commerce giant’s stock after acquiring an additional 19,676 shares during the quarter. Amazon.com comprises about 0.8% of Financial Advocates Investment Management’s investment portfolio, making the stock its 19th biggest holding. Financial Advocates Investment Management’s holdings in Amazon.com were worth $11,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMZN. Personal Capital Advisors Corp boosted its holdings in Amazon.com by 2.3% in the fourth quarter. Personal Capital Advisors Corp now owns 1,428,693 shares of the e-commerce giant’s stock worth $120,010,000 after purchasing an additional 32,430 shares during the last quarter. Probity Advisors Inc. lifted its holdings in shares of Amazon.com by 1.9% during the 4th quarter. Probity Advisors Inc. now owns 11,999 shares of the e-commerce giant’s stock valued at $1,008,000 after buying an additional 218 shares during the period. Regal Partners Ltd boosted its stake in shares of Amazon.com by 0.9% in the 4th quarter. Regal Partners Ltd now owns 920,133 shares of the e-commerce giant’s stock worth $77,291,000 after buying an additional 8,236 shares during the last quarter. Resurgent Financial Advisors LLC grew its holdings in shares of Amazon.com by 9.4% in the fourth quarter. Resurgent Financial Advisors LLC now owns 22,742 shares of the e-commerce giant’s stock worth $1,910,000 after acquiring an additional 1,953 shares during the period. Finally, State of Wyoming increased its position in Amazon.com by 14.5% during the fourth quarter. State of Wyoming now owns 11,247 shares of the e-commerce giant’s stock valued at $945,000 after acquiring an additional 1,426 shares during the last quarter. 57.64% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $126.42 on Thursday. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 301.00, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $146.57. The firm has a 50-day moving average of $111.77 and a two-hundred day moving average of $100.56.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, research analysts forecast that Amazon.com, Inc. will post 1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore ISI dropped their target price on Amazon.com from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Monday, April 3rd. UBS Group upped their target price on shares of Amazon.com from $130.00 to $150.00 in a report on Thursday, June 8th. Wells Fargo & Company began coverage on shares of Amazon.com in a research note on Wednesday, June 7th. They set an “overweight” rating and a $159.00 price target on the stock. Rosenblatt Securities lifted their price target on shares of Amazon.com from $106.00 to $111.00 in a research note on Friday, April 28th. Finally, Piper Jaffray Companies lifted their price target on shares of Amazon.com from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.28.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 21,925 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $115.37, for a total value of $2,529,487.25. Following the completion of the sale, the chief executive officer now owns 1,997,681 shares in the company, valued at approximately $230,472,456.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Adam Selipsky sold 2,299 shares of the business’s 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 owns 138,320 shares in the company, valued at approximately $13,879,028.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 21,925 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the completion of the sale, the chief executive officer now owns 1,997,681 shares of the company’s stock, valued at approximately $230,472,456.97. The disclosure for this sale can be found here. Insiders sold a total of 75,644 shares of company stock valued at $8,576,262 in the last three months. Company 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.