Northeast Investment Management Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Nov 1st, 2023

Northeast Investment Management cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 573,932 shares of the e-commerce giant’s stock after selling 3,921 shares during the period. Amazon.com accounts for approximately 4.2% of Northeast Investment Management’s portfolio, making the stock its 3rd biggest holding. Northeast Investment Management’s holdings in Amazon.com were worth $74,818,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Amazon.com by 1.8% during the third quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after acquiring an additional 12,456,995 shares during the period. State Street Corp increased its stake in Amazon.com by 1.0% during the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after acquiring an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 1,838.8% during 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 during the period. FMR LLC increased its stake in Amazon.com by 1,792.4% during 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 during the period. Finally, Geode Capital Management LLC increased its stake in Amazon.com by 2.3% during the first quarter. Geode Capital Management LLC now owns 165,309,180 shares of the e-commerce giant’s stock valued at $17,031,683,000 after acquiring an additional 3,774,390 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $133.87, for a total value of $414,997.00. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at $16,034,948.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Amazon Com Inc sold 1,177,000 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 9th. The shares were 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 directly owns 12,741,445 shares in the company, valued at $248,458,177.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $133.87, for a total transaction of $414,997.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $16,034,948.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,404,645 shares of company stock worth $54,674,088. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. CICC Research assumed coverage on Amazon.com in a report on Sunday, July 9th. They set an “outperform” rating on the stock. Wolfe Research lifted their price objective on Amazon.com from $140.00 to $150.00 in a report on Monday, July 10th. Oppenheimer reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Amazon.com in a report on Thursday, October 19th. Truist Financial decreased their price objective on Amazon.com from $176.00 to $174.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Finally, Canaccord Genuity Group lifted their price objective on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $169.00.

View Our Latest Stock Report on AMZN

Amazon.com Trading Up 0.3 %

Shares of NASDAQ:AMZN opened at $133.09 on Wednesday. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $145.86. The stock has a market cap of $1.37 trillion, a PE ratio of 68.96, a P/E/G ratio of 1.94 and a beta of 1.24. The business has a 50 day moving average of $132.24 and a 200-day moving average of $126.15. The company has a quick ratio of 0.74, a current ratio of 0.98 and a debt-to-equity ratio of 0.33.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a return on equity of 12.75% and a net margin of 3.62%. The company had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. As a group, equities research analysts forecast that Amazon.com, Inc. will post 2.23 earnings per share for the current year.

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.