Abner Herrman & Brock LLC Sells 3,494 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 28th, 2023

Abner Herrman & Brock LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,309 shares of the e-commerce giant’s stock after selling 3,494 shares during the period. Abner Herrman & Brock LLC’s holdings in Amazon.com were worth $3,131,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Fiduciary Planning LLC raised its position in Amazon.com by 1.5% in the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock valued at $1,138,000 after purchasing an additional 5 shares during the last quarter. HBC Financial Services PLLC boosted its position in Amazon.com by 0.8% during the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after buying an additional 5 shares during the period. Meridian Investment Counsel Inc. grew its holdings in Amazon.com by 3.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after acquiring an additional 5 shares during the last quarter. Alterna Wealth Management Inc. increased its position in Amazon.com by 1.8% in the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after acquiring an additional 5 shares during the period. Finally, Archetype Wealth Partners raised its stake in shares of Amazon.com by 3.7% during the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after acquiring an additional 6 shares during the last quarter. 56.67% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 1.5 %

NASDAQ AMZN opened at $129.18 on Wednesday. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 307.57, a PEG ratio of 2.52 and a beta of 1.26. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. The business’s fifty day moving average is $116.38 and its 200-day moving average is $102.85.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 EPS for the quarter, topping 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 company had revenue of $127.36 billion for the quarter, compared to analysts’ expectations of $124.57 billion. During the same period in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 1.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMZN. Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price objective on shares of Amazon.com in a report on Thursday, April 20th. Oppenheimer cut their price objective on Amazon.com from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Bank of America increased their target price on shares of Amazon.com from $139.00 to $154.00 in a research report on Monday, June 12th. Jefferies Financial Group upped their price objective on shares of Amazon.com from $135.00 to $150.00 in a research note on Wednesday, June 21st. Finally, Truist Financial lifted their target price on shares of Amazon.com from $142.00 to $144.00 in a research note on Wednesday, April 12th. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $146.41.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $101.67, for a total value of $50,835.00. Following the completion of the sale, the chief executive officer now owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $105.00, for a total value of $420,000.00. Following the completion of the sale, the chief executive officer now owns 552,298 shares of the company’s stock, valued at approximately $57,991,290. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total value of $50,835.00. Following the transaction, the chief executive officer now directly owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,845 shares of company stock valued at $8,408,115. 12.70% of the stock is owned by insiders.

Amazon.com Company Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.