Amazon.com, Inc. $AMZN is Elite Wealth Management Inc.'s 4th Largest Position

Key Points

• Elite Wealth Management cut its Amazon stake by 37.8% in the fourth quarter, but Amazon still remained its 4th largest position and accounted for about 5.3% of its portfolio.
• Amazon reported strong quarterly results, with revenue of $181.52 billion, up 16.6% year over year, and EPS of $2.78, well above analyst expectations.
• Wall Street sentiment stays bullish: multiple firms raised price targets, and the consensus rating remains Moderate Buy with an average target of $312.66.

Elite Wealth Management Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,602 shares of the e-commerce giant's stock after selling 50,821 shares during the quarter. Amazon.com comprises approximately 5.3% of Elite Wealth Management Inc.'s portfolio, making the stock its 4th biggest position. Elite Wealth Management Inc.'s holdings in Amazon.com were worth $19,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares during the period. Revolve Wealth Partners LLC lifted its position in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after buying an additional 986 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after buying an additional 54,987 shares during the period. Highview Capital Management LLC DE lifted its position in Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after buying an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC purchased a new position in Amazon.com during the fourth quarter valued at $2,153,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Buying and Selling

In related 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 completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $262.38, for a total value of $620,003.94. Following the completion of the sale, the vice president owned 119,780 shares of the company's stock, valued at $31,427,876.40. The trade was a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock worth $51,552,494 in the last three months. 8.90% of the stock is currently owned by company insiders.

Key Amazon.com News

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMZN. Needham & Company LLC raised their price objective on Amazon.com from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Maxim Group raised their price objective on Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Roth Mkm raised their price target on Amazon.com from $285.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Jefferies Financial Group restated a "buy" rating on shares of Amazon.com in a report on Monday, May 4th. Finally, KeyCorp raised their price target on Amazon.com from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $312.66.

Amazon.com Price Performance

NASDAQ AMZN opened at $265.29 on Wednesday. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The stock has a 50-day moving average of $241.79 and a 200 day moving average of $231.93. The company has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.99 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $177.28 billion. During the same period last year, the company earned $1.59 EPS. Amazon.com's revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

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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