Adams Diversified Equity Fund Inc. Sells 15,300 Shares of Amazon.com, Inc. $AMZN

Key Points

• Adams Diversified Equity Fund trimmed its Amazon stake by 2.8% in the first quarter, selling 15,300 shares and leaving it with 534,200 shares worth about $111.3 million.
• Amazon’s latest earnings beat expectations, with $2.78 EPS on $181.52 billion in revenue, while sales rose 16.6% year over year and analysts still expect strong full-year earnings growth.
• Recent developments remain positive for Amazon, including progress on its Leo satellite internet project, expanded AI chip initiatives, and strong Prime Day shopping demand; Wall Street maintains a Moderate Buy rating with a consensus price target of $312.79.

Adams Diversified Equity Fund Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 534,200 shares of the e-commerce giant's stock after selling 15,300 shares during the quarter. Amazon.com accounts for approximately 3.9% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 5th biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Amazon.com were worth $111,258,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MilWealth Group LLC increased its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the 4th quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership raised its holdings in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC raised its holdings in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. lifted its position in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Insider Buying and Selling

In other news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the transaction, the senior vice president owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares of the company's stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 over the last three months. 8.90% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $242.67 on Monday. The stock's 50-day moving average is $254.57 and its 200 day moving average is $234.65. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMZN. Barclays reissued an "overweight" rating on shares of Amazon.com in a report on Tuesday, June 9th. Robert W. Baird lifted their target price on Amazon.com from $285.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Pivotal Research reiterated a "buy" rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. BNP Paribas Exane increased their price target on shares of Amazon.com from $320.00 to $345.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Telsey Advisory Group raised their price objective on shares of Amazon.com from $300.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $312.79.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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