Amazon.com, Inc. $AMZN Position Increased by Palumbo Wealth Management LLC

Key Points

• Palumbo Wealth Management LLC increased its stake in Amazon.com, Inc. by 31.1% in the second quarter, owning 46,647 shares worth approximately $10.2 million.
• Insider trading was noted, with VP Shelley Reynolds and CEO Douglas J. Herrington selling shares totaling over $1 million, amidst a broader trend where insiders sold nearly 18.8 million shares in the last 90 days.
• Amazon's stock is currently down 1.3%, with a market capitalization of $2.34 trillion and analysts continuing to issue positive ratings and higher price targets for the stock.

Palumbo Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 31.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,647 shares of the e-commerce giant's stock after acquiring an additional 11,077 shares during the period. Amazon.com comprises approximately 3.2% of Palumbo Wealth Management LLC's portfolio, making the stock its 6th largest position. Palumbo Wealth Management LLC's holdings in Amazon.com were worth $10,234,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AMZN. Vanguard Group Inc. raised its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after purchasing an additional 8,913,959 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Amazon.com by 542,733.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock worth $29,100,194,000 after purchasing an additional 132,616,953 shares in the last quarter. Northern Trust Corp boosted its holdings in Amazon.com by 0.3% in the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant's stock worth $18,527,354,000 after acquiring an additional 302,858 shares in the last quarter. Nuveen LLC purchased a new stake in Amazon.com during the 1st quarter valued at about $11,674,091,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Amazon.com by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,243,622 shares of the e-commerce giant's stock valued at $11,461,952,000 after buying an additional 605,415 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 2,715 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $221.64, for a total transaction of $601,752.60. Following the completion of the transaction, the vice president owned 119,780 shares of the company's stock, valued at $26,548,039.20. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $217.10, for a total value of $542,750.00. Following the completion of the sale, the chief executive officer directly owned 515,507 shares of the company's stock, valued at $111,916,569.70. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,798,540 shares of company stock valued at $4,273,477,287. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Down 1.3%

Shares of AMZN opened at $219.51 on Monday. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 33.46, a PEG ratio of 1.47 and a beta of 1.28. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The stock's 50-day moving average price is $226.55 and its 200-day moving average price is $211.24. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.Amazon.com's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. Amazon.com has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMZN. Robert W. Baird boosted their price objective on shares of Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Barclays lifted their price objective on Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group reaffirmed a "buy" rating and issued a $271.00 target price (up previously from $249.00) on shares of Amazon.com in a report on Monday, July 28th. Needham & Company LLC restated a "buy" rating and issued a $265.00 price target on shares of Amazon.com in a research note on Friday, August 1st. Finally, Pivotal Research raised their price objective on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $266.26.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

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