IFP Advisors Inc Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Jul 7th, 2023

IFP Advisors Inc trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 47.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,573 shares of the e-commerce giant’s stock after selling 152,865 shares during the quarter. Amazon.com makes up about 2.1% of IFP Advisors Inc’s investment portfolio, making the stock its 5th biggest position. IFP Advisors Inc’s holdings in Amazon.com were worth $49,279,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Fiduciary Planning LLC increased its position in shares of Amazon.com by 1.5% during the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after acquiring an additional 5 shares in the last quarter. HBC Financial Services PLLC increased its position in shares of Amazon.com by 0.8% during the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after acquiring an additional 5 shares in the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Amazon.com by 3.4% during the first 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 in the last quarter. Alterna Wealth Management Inc. increased its position in shares of Amazon.com by 1.8% during the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after acquiring an additional 5 shares in the last quarter. Finally, Archetype Wealth Partners increased its position 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 worth $552,000 after acquiring an additional 6 shares in the last quarter. 56.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Piper Sandler raised their target price on shares of Amazon.com from $130.00 to $150.00 in a research report on Wednesday, June 7th. Evercore ISI decreased their target price on shares of Amazon.com from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Monday, April 3rd. UBS Group raised their target price on shares of Amazon.com from $130.00 to $150.00 in a research report on Thursday, June 8th. Finally, Jefferies Financial Group raised their target price on shares of Amazon.com from $135.00 to $150.00 in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.23.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction on 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 directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $126.27, for a total transaction of $63,135.00. Following the transaction, the chief executive officer now directly owns 152,780 shares of the company’s stock, valued at $19,291,530.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the transaction, the chief executive officer now directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The disclosure for this sale can be found here. Insiders sold a total of 73,345 shares of company stock worth $8,472,000 over the last three months. 12.30% of the stock is owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $128.36 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $146.57. The firm has a 50 day moving average of $119.74 and a 200-day moving average of $104.59. The stock has a market capitalization of $1.32 trillion, a PE ratio of 305.62, a PEG ratio of 2.53 and a beta of 1.26.

Amazon.com (NASDAQ:AMZN – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The company had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. During the same period in the prior year, the company posted $0.21 earnings per share. Amazon.com’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 1.56 EPS for the current fiscal year.

Amazon.com Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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