Pinnacle Wealth Planning Services Inc. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Wealth Planning Services Inc. trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,329 shares of the e-commerce giant's stock after selling 11,485 shares during the period. Amazon.com makes up about 1.5% of Pinnacle Wealth Planning Services Inc.'s portfolio, making the stock its 11th biggest position. Pinnacle Wealth Planning Services Inc.'s holdings in Amazon.com were worth $9,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC lifted its stake in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the period. Finally, Norges Bank purchased a new stake in Amazon.com in the 4th quarter worth $27,266,582,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMZN has been the topic of several research analyst reports. Cantor Fitzgerald lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Westpark Capital reiterated a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a report on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Amazon.com in a report on Tuesday, May 6th. Citizens Jmp lowered their target price on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Raymond James reaffirmed an "outperform" rating and set a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $244.89.

Amazon.com Stock Up 0.3%

Shares of Amazon.com stock traded up $0.63 during trading hours on Tuesday, hitting $217.61. The company had a trading volume of 31,236,101 shares, compared to its average volume of 42,131,034. The company's 50-day moving average is $193.04 and its two-hundred day moving average is $209.02. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market cap of $2.31 trillion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. Analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares of the company's stock, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,037 shares of company stock worth $20,531,075 in the last 90 days. Company insiders own 9.70% of the company's stock.

About Amazon.com

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.