Scissortail Wealth Management LLC Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Oct 14th, 2023

Scissortail Wealth Management LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,623 shares of the e-commerce giant’s stock after selling 767 shares during the period. Amazon.com makes up approximately 1.7% of Scissortail Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Scissortail Wealth Management LLC’s holdings in Amazon.com were worth $2,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fiduciary Planning LLC grew its holdings in shares of Amazon.com by 1.5% in the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after acquiring an additional 5 shares during the last quarter. HBC Financial Services PLLC boosted its position in shares of Amazon.com by 0.8% in the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after buying an additional 5 shares during the period. Meridian Investment Counsel Inc. boosted its position in shares of Amazon.com by 3.4% in the first quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after buying an additional 5 shares during the period. Alterna Wealth Management Inc. boosted its position in shares of Amazon.com by 1.8% in the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after buying an additional 5 shares during the period. Finally, Archetype Wealth Partners boosted its position in shares of Amazon.com by 3.7% in the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after buying an additional 6 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $126.64, for a total value of $63,320.00. Following the completion of the sale, the chief executive officer now owns 105,520 shares in the company, valued at approximately $13,363,052.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $126.64, for a total value of $63,320.00. Following the completion of the transaction, the chief executive officer now directly owns 105,520 shares of the company’s stock, valued at approximately $13,363,052.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Amazon Com Inc sold 1,177,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 12,741,445 shares of the company’s stock, valued at $248,458,177.50. The disclosure for this sale can be found here. Insiders have sold 1,408,645 shares of company stock worth $55,207,763 in the last quarter. Insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. Piper Sandler lifted their price objective on Amazon.com from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Rosenblatt Securities upgraded Amazon.com from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $111.00 to $184.00 in a research note on Friday, August 4th. Redburn Partners boosted their price target on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Truist Financial boosted their price target on Amazon.com from $144.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Argus restated a “buy” rating and set a $165.00 price target on shares of Amazon.com in a research note on Wednesday, September 27th. Two investment analysts have rated the stock with a hold rating and forty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.94.

Check Out Our Latest Stock Analysis on AMZN

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $129.79 on Friday. The firm has a market cap of $1.34 trillion, a PE ratio of 102.20, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. The firm’s fifty day moving average is $134.44 and its 200-day moving average is $123.80. 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.

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, beating analysts’ consensus estimates of $0.34 by $0.29. The business 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%. Sell-side analysts predict that Amazon.com, Inc. will post 2.23 earnings per share for the current year.

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.

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

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