Amazon.com, Inc. $AMZN is Axxcess Wealth Management LLC's 10th Largest Position

Key Points

• Axxcess Wealth Management increased its Amazon stake by 16.9% in the fourth quarter, making Amazon its 10th-largest position. The firm now holds 346,718 shares valued at about $79.6 million.
• Several business developments are supporting the bullish case for Amazon, including plans to sell Trainium AI chips to outside customers and a $10 billion Missouri data center buildout tied to AI demand. The company is also seeing AWS win new enterprise business, including a healthcare pricing and payments deal with Zelis.
• Wall Street remains constructive on the stock, with multiple firms raising targets and Amazon maintaining a Moderate Buy consensus. The company also posted strong last-quarter results, beating EPS and revenue estimates and reporting 16.6% year-over-year revenue growth.

Axxcess Wealth Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,718 shares of the e-commerce giant's stock after acquiring an additional 50,130 shares during the quarter. Amazon.com makes up about 0.9% of Axxcess Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Axxcess Wealth Management LLC's holdings in Amazon.com were worth $79,562,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Birchwood Financial Partners Inc. bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $172,000. Jacobs Equity LLC bought a new position in Amazon.com in the fourth quarter worth approximately $421,000. Smith Asset Management Co. LLC raised its stake in Amazon.com by 16.0% in the fourth quarter. Smith Asset Management Co. LLC now owns 5,618 shares of the e-commerce giant's stock worth $1,297,000 after buying an additional 774 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in Amazon.com by 5.3% during the fourth quarter. Alberta Investment Management Corp now owns 167,500 shares of the e-commerce giant's stock worth $38,662,000 after buying an additional 8,460 shares during the period. Finally, Royal Harbor Partners LLC lifted its holdings in Amazon.com by 1.4% during the fourth quarter. Royal Harbor Partners LLC now owns 15,933 shares of the e-commerce giant's stock worth $3,678,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

More Amazon.com News

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

• Positive Sentiment: Amazon is exploring selling Trainium AI chips to external data-center customers, which could open a new revenue stream and strengthen its position in AI infrastructure. Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD
• Positive Sentiment: Amazon’s planned $10 billion Missouri data center buildout underscores rising AI infrastructure demand and suggests stronger AWS growth ahead. Should Amazon’s US$10 Billion Missouri AI Bet and Trainium Chip Sales Shift AMZN’s Cloud Narrative?
• Positive Sentiment: Bank of America reiterated a Buy rating and a $310 price target, framing Alexa+ and Prime Day as potential catalysts for adoption and sales growth. Amazon's Alexa AI Could Be The Real Prime Day Winner: Analyst
• Positive Sentiment: Prime Day is expected to generate nearly $22 billion in gross merchandise value, offering a near-term retail lift and a showcase for Amazon’s AI shopping tools. Amazon Prime Day expected to generate nearly $22B in sales
• Positive Sentiment: Alexa+ is expanding internationally, including full rollout in Canada and availability in Brazil, which supports Amazon’s consumer AI monetization story. Here’s Why Amazon.com, Inc. (AMZN) is a Top Growth Stock to Buy According to Ray Dalio’s Bridgewater
• Positive Sentiment: Amazon’s AWS unit won new business as Zelis selected AWS to automate healthcare pricing and payments, showing continued enterprise cloud momentum. Zelis Picks AWS to Automate Healthcare Pricing and Payments

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus set a $319.00 price target on Amazon.com and gave the company a "buy" rating in a report on Thursday, April 30th. BMO Capital Markets upped their price objective on Amazon.com from $310.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Scotiabank reaffirmed an "outperform" rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Monness Crespi & Hardt raised their price objective on Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $330.00 target price (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $312.78.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $266.19, for a total transaction of $266,190.00. Following the sale, the chief executive officer owned 485,527 shares in the company, valued at approximately $129,242,432.13. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal 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, VP Shelley Reynolds sold 2,363 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the transaction, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 195,774 shares of company stock valued at $51,614,434. Insiders own 8.90% of the company's stock.

Amazon.com Stock Up 2.9%

Amazon.com stock opened at $244.39 on Friday. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The business has a fifty day moving average price of $256.04 and a 200-day moving average price of $234.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The stock has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.78 and a beta of 1.44.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same period in the prior year, the company posted $1.59 EPS. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Amazon.com Company Profile

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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