FinDec Wealth Services Inc. Purchases 674 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 10th, 2023

FinDec Wealth Services Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 23.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the e-commerce giant’s stock after acquiring an additional 674 shares during the period. FinDec Wealth Services Inc.’s holdings in Amazon.com were worth $457,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMZN. State Street Corp lifted its position in Amazon.com by 1,869.1% during the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 valued at $33,134,481,000 after acquiring an additional 295,880,050 shares in the last quarter. FMR LLC lifted its position in shares of 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 valued at $30,381,089,000 after acquiring an additional 270,931,640 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of 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 valued at $9,784,345,000 after acquiring an additional 116,383,502 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Amazon.com in the fourth quarter valued at about $8,263,591,000. Institutional investors own 57.96% of the company’s stock.

Amazon.com Stock Up 0.2 %

Amazon.com stock opened at $128.26 on Tuesday. The business has a fifty day moving average of $134.54 and a two-hundred day moving average of $123.24. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.32 trillion, a P/E ratio of 100.99, a P/E/G ratio of 1.69 and a beta of 1.24. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $145.86.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The e-commerce giant reported $0.63 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $131.54 billion. On average, analysts forecast that Amazon.com, Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $129.48, for a total transaction of $64,740.00. Following the completion of the sale, the chief executive officer now owns 149,780 shares in the company, valued at approximately $19,393,514.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’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 transaction, the chief executive officer now directly owns 560,301 shares of the company’s stock, valued at approximately $74,828,198.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $129.48, for a total value of $64,740.00. Following the completion of the transaction, the chief executive officer now directly owns 149,780 shares in the company, valued at $19,393,514.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,408,145 shares of company stock worth $55,144,443. Insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMZN. Canaccord Genuity Group boosted their price objective on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Susquehanna boosted 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. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price on shares of Amazon.com in a research report on Thursday, September 21st. Canaccord Genuity Group boosted their target price on Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, JMP Securities boosted their target price on Amazon.com from $140.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $161.30.

Read Our Latest Stock Analysis on Amazon.com

Amazon.com Company 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.