Wealthcare Advisory Partners LLC Sells 1,321 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 3rd, 2023

Wealthcare Advisory Partners LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,001 shares of the e-commerce giant’s stock after selling 1,321 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Amazon.com were worth $7,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp increased its holdings in Amazon.com by 1,869.1% in the second 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Amazon.com by 1,838.8% in the second 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 in the last quarter. FMR LLC increased its holdings in Amazon.com by 1,792.4% in the second 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 in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Amazon.com by 120,235.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock worth $9,784,345,000 after purchasing an additional 116,383,502 shares in the last quarter. Finally, Norges Bank bought a new stake in Amazon.com in the fourth quarter worth approximately $8,263,591,000. 57.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research analyst reports. UBS Group lifted their target price on Amazon.com from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Tigress Financial raised their price objective on Amazon.com from $192.00 to $204.00 in a research note on Thursday, July 13th. Wolfe Research raised their price objective on Amazon.com from $140.00 to $150.00 in a research note on Monday, July 10th. Robert W. Baird raised their price objective on Amazon.com from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, Credit Suisse Group raised their price objective on Amazon.com from $176.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.30.

Read Our Latest Research Report on AMZN

Amazon.com Stock Performance

NASDAQ:AMZN opened at $129.46 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $145.86. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 101.94, a PEG ratio of 1.68 and a beta of 1.24. The business’s fifty day moving average is $134.89 and its 200 day moving average is $122.26.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings data 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 company had revenue of $134.38 billion for the quarter, compared to analyst estimates of $131.54 billion. Research analysts predict that Amazon.com, Inc. will post 2.23 EPS for the current year.

Insider Activity at Amazon.com

In related news, major shareholder Amazon Com Inc sold 1,177,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the sale, the insider now directly owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, major shareholder Amazon Com Inc sold 1,177,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total value of $22,951,500.00. Following the transaction, the insider now directly owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at $16,034,948.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,404,645 shares of company stock worth $54,699,728. 12.70% of the stock is owned by company insiders.

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.