Amazon.com, Inc. $AMZN Position Lowered by Xcel Wealth Management LLC

Key Points

• Xcel Wealth Management trimmed its Amazon stake by 1.7% in the first quarter, but Amazon remains its largest holding at about 7.7% of portfolio value.
• Amazon reported a strong quarterly beat, with EPS of $2.78 versus the $1.63 estimate and revenue of $181.52 billion, up 16.6% year over year.
• Analysts remain constructive on the stock: multiple firms raised price targets, and the consensus rating is Moderate Buy with an average target price of $312.79.

Xcel Wealth Management LLC trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 134,063 shares of the e-commerce giant's stock after selling 2,307 shares during the quarter. Amazon.com comprises approximately 7.7% of Xcel Wealth Management LLC's portfolio, making the stock its biggest position. Xcel Wealth Management LLC's holdings in Amazon.com were worth $27,921,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after buying an additional 79 shares during the period. Lifetime Wealth Management P.C. bought a new stake in shares of Amazon.com in the fourth quarter worth $45,000. Elkhorn Partners Limited Partnership grew its holdings in shares of Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC increased its position in Amazon.com by 95.6% during the fourth 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 last quarter. Finally, Prudent Man Investment Management Inc. increased its position in 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 acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $242.67 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock has a 50-day simple moving average of $254.82 and a two-hundred day simple moving average of $234.51. The firm has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.80 and a beta of 1.46. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted 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 firm had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter last year, the company earned $1.59 earnings per share. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% 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. Insiders sold a total of 195,774 shares of company stock worth $51,643,704 in the last ninety days. Corporate insiders own 8.90% of the company's stock.

Trending Headlines about Amazon.com

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, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Monness Crespi & Hardt increased their target price on Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, April 30th. The Goldman Sachs Group restated a "buy" rating and set a $325.00 price target (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Wolfe Research reaffirmed an "outperform" rating and set a $320.00 price target (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. Citizens Jmp reiterated a "market outperform" rating and issued a $315.00 price objective on shares of Amazon.com in a research note on Friday, April 10th. Finally, Roth Mkm raised their price objective on shares of Amazon.com from $285.00 to $300.00 and gave the stock a "buy" rating in a 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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