Great Valley Advisor Group Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Aug 9th, 2023

Great Valley Advisor Group Inc. trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,090 shares of the e-commerce giant’s stock after selling 8,402 shares during the period. Amazon.com makes up 1.5% of Great Valley Advisor Group Inc.’s investment portfolio, making the stock its 7th largest holding. Great Valley Advisor Group Inc.’s holdings in Amazon.com were worth $31,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. St. James Investment Advisors LLC boosted its holdings in shares of Amazon.com by 97.7% during the 4th quarter. St. James Investment Advisors LLC now owns 344 shares of the e-commerce giant’s stock worth $29,000 after buying an additional 170 shares in the last quarter. Laurel Wealth Planning LLC lifted its holdings in shares of Amazon.com by 1,900.0% in the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after purchasing an additional 304 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Amazon.com in the 4th quarter worth $37,000. Swaine & Leidel Wealth Services LLC bought a new position in Amazon.com during the 1st quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. bought a new position in Amazon.com during the 4th quarter valued at $40,000. 56.67% of the stock is currently owned by institutional investors.

Amazon.com Trading Down 1.6 %

Shares of Amazon.com stock opened at $139.94 on Wednesday. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57. The stock has a 50 day moving average of $128.78 and a 200 day moving average of $111.56. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 110.19, a PEG ratio of 2.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 50,000 shares of Amazon.com stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $141.00, for a total transaction of $7,050,000.00. Following the sale, the chief executive officer now owns 510,301 shares in the company, valued at $71,952,441. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $133.55, for a total value of $534,200.00. Following the completion of the transaction, the chief executive officer now directly owns 560,301 shares in the company, valued at approximately $74,828,198.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 50,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $141.00, for a total value of $7,050,000.00. Following the completion of the transaction, the chief executive officer now owns 510,301 shares of the company’s stock, valued at $71,952,441. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,305 shares of company stock worth $15,656,808. Company insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMZN. Wedbush raised their target price on Amazon.com from $146.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Robert W. Baird lifted their price objective on Amazon.com from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. StockNews.com raised Amazon.com from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective on Amazon.com from $130.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Amazon.com from $145.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $157.89.

Get Our Latest Stock Analysis on Amazon.com

About Amazon.com

(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.