Cyndeo Wealth Partners LLC Has $19.77 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 28th, 2023

Cyndeo Wealth Partners LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,638 shares of the e-commerce giant’s stock after purchasing an additional 5,974 shares during the quarter. Amazon.com makes up approximately 2.1% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 5th largest holding. Cyndeo Wealth Partners LLC’s holdings in Amazon.com were worth $19,768,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fiduciary Planning LLC grew its stake in Amazon.com by 1.5% during the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock valued at $1,138,000 after purchasing an additional 5 shares in the last quarter. HBC Financial Services PLLC grew its stake in Amazon.com by 0.8% during the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock valued at $1,717,000 after purchasing an additional 5 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in Amazon.com by 3.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock valued at $492,000 after purchasing an additional 5 shares in the last quarter. Alterna Wealth Management Inc. grew its stake in Amazon.com by 1.8% during the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after purchasing an additional 5 shares in the last quarter. Finally, Archetype Wealth Partners grew its stake in Amazon.com by 3.7% during the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after purchasing an additional 6 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $130.53, for a total transaction of $65,265.00. Following the completion of the transaction, the chief executive officer now owns 104,520 shares in the company, valued at $13,642,995.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $130.53, for a total transaction of $65,265.00. Following the completion of the transaction, the chief executive officer now owns 104,520 shares in the company, valued at $13,642,995.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 42,816 shares of the business’s stock in a transaction that occurred 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 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. Over the last 90 days, insiders sold 1,408,645 shares of company stock worth $55,208,288. Company insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent analyst reports. Redburn Partners raised their price objective on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Citigroup increased their target price on Amazon.com from $145.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, August 4th. TD Cowen increased their target price on Amazon.com from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Bank of America reaffirmed a “buy” rating and set a $174.00 target price on shares of Amazon.com in a report on Tuesday, September 26th. Finally, CICC Research initiated coverage on Amazon.com in a report on Sunday, July 9th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $165.70.

Check Out Our Latest Research Report on Amazon.com

Amazon.com Trading Up 6.8 %

Amazon.com stock opened at $127.74 on Friday. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $145.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 100.58, a PEG ratio of 1.84 and a beta of 1.24. The stock has a 50-day simple moving average of $132.39 and a 200 day simple moving average of $125.38.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly 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 business had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. Analysts expect that Amazon.com, Inc. will post 2.24 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.