Congress Wealth Management LLC DE Has $19.10 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Sep 25th, 2023

Congress Wealth Management LLC DE raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,498 shares of the e-commerce giant’s stock after buying an additional 3,329 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Amazon.com were worth $19,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Laurel Wealth Planning LLC grew its holdings in shares of Amazon.com by 1,900.0% during 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. acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $37,000. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $38,000. Ruedi Wealth Management Inc. acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $40,000. Finally, Atlantic Private Wealth LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 42,816 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $145.13, for a total value of $6,213,886.08. Following the sale, the senior vice president now directly owns 64,380 shares in the company, valued at $9,343,469.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP David Zapolsky sold 42,816 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $145.13, for a total value of $6,213,886.08. Following the sale, the senior vice president now directly owns 64,380 shares in the company, valued at $9,343,469.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total value of $69,240.00. Following the completion of the sale, the chief executive officer now owns 106,520 shares in the company, valued at $14,750,889.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,408,645 shares of company stock valued at $55,223,448. Company insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $175.00 price objective on shares of Amazon.com in a report on Wednesday, September 20th. TD Cowen raised their target price on Amazon.com from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Wedbush restated an “outperform” rating and set a $180.00 target price on shares of Amazon.com in a research report on Friday, September 15th. Susquehanna raised their target price on Amazon.com from $150.00 to $185.00 and gave the stock a “positive” rating in a research report on Friday, August 4th. Finally, Mizuho raised their target price on Amazon.com from $160.00 to $180.00 and gave the stock a “buy” rating in a research report 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 company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.22.

Get Our Latest Report on Amazon.com

Amazon.com Stock Down 0.2 %

NASDAQ:AMZN opened at $129.12 on Monday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $145.86. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.33 trillion, a price-to-earnings ratio of 101.67, a PEG ratio of 1.71 and a beta of 1.24. The stock has a 50-day moving average price of $135.38 and a two-hundred day moving average price of $120.67.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The firm had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. As a group, equities analysts expect that Amazon.com, Inc. will post 2.23 earnings per share for the current 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.