WESPAC Advisors SoCal LLC Decreases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Oct 14th, 2023

WESPAC Advisors SoCal LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,768 shares of the e-commerce giant’s stock after selling 4,560 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Amazon.com were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Planning LLC grew its position in shares of Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 304 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Amazon.com in the fourth quarter valued at $37,000. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Amazon.com in the first quarter valued at $38,000. Ruedi Wealth Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter valued at $40,000. Finally, Atlantic Private Wealth LLC purchased a new position in Amazon.com during the first quarter worth about $43,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the subject of several recent analyst reports. Benchmark boosted their target price on Amazon.com from $130.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. BNP Paribas raised Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a research note on Friday, August 4th. Truist Financial lifted their price target on Amazon.com from $144.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. StockNews.com raised Amazon.com from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup boosted their target price on Amazon.com from $145.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and forty-nine have assigned a buy rating to the company’s stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $161.94.

Check Out Our Latest Stock Report on Amazon.com

Amazon.com Price Performance

Shares of Amazon.com stock opened at $129.79 on Friday. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $145.86. The stock’s fifty day moving average is $134.44 and its 200 day moving average is $123.80. The stock has a market cap of $1.34 trillion, a P/E ratio of 102.20, a P/E/G ratio of 1.70 and a beta of 1.24. 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 (NASDAQ:AMZN – Get Free Report) last announced its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 EPS for the quarter, topping 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 analysts’ expectations of $131.54 billion. Sell-side analysts anticipate that Amazon.com, Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, major shareholder Amazon Com Inc sold 1,177,000 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, major shareholder Amazon Com Inc sold 1,177,000 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Zapolsky sold 42,816 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now owns 64,380 shares of the company’s stock, valued at approximately $9,343,469.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,645 shares of company stock valued at $55,207,763. 12.70% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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