Amazon.com, Inc. $AMZN Stock: One Wealth Capital Management LLC Reduces Stake

Key Points

• One Wealth Capital Management cut its Amazon stake by 15.6% in the third quarter, selling 3,625 shares; it retained 19,562 shares valued at about $4.9 million.
• Analyst sentiment remains broadly positive: Amazon has a consensus “Moderate Buy” rating and an average price target of $321.74, despite some target-price revisions.
• Amazon’s latest quarter slightly missed analysts’ EPS and revenue estimates, though revenue increased 12.1% year over year to $201.94 billion.

One Wealth Capital Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,562 shares of the e-commerce giant's stock after selling 3,625 shares during the quarter. Amazon.com accounts for approximately 1.8% of One Wealth Capital Management LLC's portfolio, making the stock its 13th largest position. One Wealth Capital Management LLC's holdings in Amazon.com were worth $4,874,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock worth $95,504,904,000 after buying an additional 21,398,025 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Amazon.com during the 2nd quarter valued at $22,218,775,000. Bank of New York Mellon Corp purchased a new stake in shares of Amazon.com during the 2nd quarter valued at $16,341,405,000. Amundi lifted its holdings in shares of Amazon.com by 3.9% during the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock worth $15,211,393,000 after acquiring an additional 2,421,739 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Amazon.com during the 2nd quarter worth $12,831,376,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research analyst reports. Wedbush reduced their target price on Amazon.com from $310.00 to $298.00 and set an "outperform" rating on the stock in a research note on Friday, October 30th. Truist Financial set a $390.00 price target on Amazon.com in a research note on Friday, October 30th. Barclays reaffirmed an "overweight" rating and set a $365.00 price target (up from $330.00) on shares of Amazon.com in a research note on Friday, July 31st. Monness Crespi & Hardt upped their price objective on Amazon.com from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, UBS Group reissued a "buy" rating and set a $348.00 price objective (up from $318.00) on shares of Amazon.com in a report on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and an average target price of $321.74.

Amazon.com Price Performance

AMZN stock opened at $259.30 on Monday. The firm's 50-day moving average price is $253.96 and its two-hundred day moving average price is $243.57. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. The stock has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.97 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The business had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. During the same period in the previous year, the company earned $1.95 EPS. The company's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon's CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I'd Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Insider Buying and Selling

In related news, SVP David Zapolsky sold 9,258 shares of the 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 sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. This represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas Herrington sold 6,362 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the sale, the chief executive officer directly owned 476,681 shares in the company, valued at $123,465,145.81. This trade represents a 1.32% 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 have sold a total of 71,589 shares of company stock worth $18,545,595 over the last quarter. 8.90% of the stock is owned by insiders.

About Amazon.com

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

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