Shelton Wealth Management LLC Has $793,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Aug 26th, 2023

Shelton Wealth Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,675 shares of the e-commerce giant’s stock after purchasing an additional 551 shares during the quarter. Amazon.com makes up about 0.6% of Shelton Wealth Management LLC’s holdings, making the stock its 25th biggest position. Shelton Wealth Management LLC’s holdings in Amazon.com were worth $793,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMZN. State Street Corp increased its stake in shares of Amazon.com by 1,869.1% during the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after purchasing an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC increased its stake in shares of 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 worth $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in Amazon.com by 120,235.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after buying an additional 116,383,502 shares during the last quarter. Finally, Norges Bank acquired a new position in Amazon.com in the 4th quarter valued at $8,263,591,000. Institutional investors and hedge funds own 56.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMZN. Mizuho raised their target price on shares of Amazon.com from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Morgan Stanley raised their target price on shares of Amazon.com from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. JMP Securities raised their target price on shares of Amazon.com from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Evercore ISI raised their target price on shares of Amazon.com from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, Citigroup raised their target price on shares of Amazon.com from $145.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.87.

Read Our Latest Research Report on AMZN

Amazon.com Stock Performance

Shares of AMZN stock opened at $133.26 on Friday. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $143.63. The company’s fifty day simple moving average is $132.03 and its 200-day simple moving average is $114.78. The firm has a market cap of $1.37 trillion, a PE ratio of 104.93, a P/E/G ratio of 1.79 and a beta of 1.26. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 EPS for the quarter, topping the consensus estimate of $0.34 by $0.29. The firm had revenue of $134.38 billion for the quarter, compared to analysts’ expectations of $131.54 billion. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. Equities research analysts expect that Amazon.com, Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $120.61, for a total transaction of $482,440.00. Following the sale, the chief executive officer now owns 568,301 shares in the company, valued at approximately $68,542,783.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Amazon Com Inc sold 1,177,000 shares of Amazon.com stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the completion of the sale, the insider now owns 12,741,445 shares of the company’s stock, valued at approximately $248,458,177.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief executive officer now directly owns 568,301 shares in the company, valued at $68,542,783.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,366,329 shares of company stock valued at $48,990,512. Insiders own 12.30% of the company’s stock.

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.