Altiora Financial Group LLC Takes $1.47 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Altiora Financial Group initiated a $1.47 million Amazon position by purchasing 6,154 shares in the second quarter. Institutional investors collectively own 72.2% of Amazon’s outstanding stock.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $323.26; recent targets range from $250 to $390.
• Amazon reported strong quarterly results, including $5.75 in EPS and $200.61 billion in revenue, while newer growth initiatives include expanding advertising into ChatGPT and launching Zoox robotaxi services in San Francisco.

Altiora Financial Group LLC purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,154 shares of the e-commerce giant's stock, valued at approximately $1,467,000. Amazon.com comprises 0.2% of Altiora Financial Group LLC's investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Trust Asset Management LLC boosted its holdings in shares of Amazon.com by 3.3% during the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant's stock valued at $26,000 after acquiring an additional 3,414 shares during the period. Longfellow Investment Management Co. LLC bought a new position in Amazon.com in the 2nd quarter worth about $33,000. 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 valued at $41,000 after purchasing an additional 79 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $45,000. Finally, Prudent Man Investment Management Inc. raised its holdings 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 valued at $53,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. DA Davidson reiterated a "neutral" rating and set a $250.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. Wedbush raised their target price on Amazon.com from $293.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Roth Capital reaffirmed a "buy" rating and set a $325.00 target price on shares of Amazon.com in a research note on Monday, August 3rd. Raymond James Financial reiterated an "outperform" rating and set a $390.00 price target (up from $280.00) on shares of Amazon.com in a research report on Friday, July 31st. Finally, Rosenblatt Securities initiated coverage on Amazon.com in a research note on Thursday, August 20th. They issued a "buy" rating and a $335.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $323.26.

Amazon.com Stock Performance

AMZN opened at $253.54 on Tuesday. The business has a 50 day moving average price of $255.75 and a two-hundred day moving average price of $244.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. The company has a market capitalization of $2.73 trillion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company had revenue of $200.61 billion for the quarter, compared to analysts' expectations of $197.03 billion. During the same period last year, the firm earned $1.68 EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts predict that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Insider Activity

In other Amazon.com news, CFO Brian Olsavsky sold 6,172 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $260.31, for a total value of $1,606,633.32. Following the sale, the chief financial officer directly owned 109,207 shares in the company, valued at approximately $28,427,674.17. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $10,699,926.30. The trade was a 18.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,589 shares of company stock valued at $18,568,785 over the last quarter. Insiders own 8.90% of the company's stock.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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