Granite Bay Wealth Management LLC Grows Stock Holdings in Amazon.com, Inc. $AMZN

Key Points

• Granite Bay Wealth Management boosted its Amazon stake by 10.2% in the first quarter, buying 4,648 more shares and bringing its total to 50,120 shares worth about $10.4 million.
• Other institutional investors also increased positions in AMZN, and institutions now own 72.2% of Amazon’s stock, signaling broad professional interest in the shares.
• Amazon continues to draw upbeat analyst attention thanks to its AI and AWS growth, though investors are also watching risks from heavy AI spending and a U.S. Senate probe into possible Chinese influence on marketplace decisions.

Granite Bay Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,120 shares of the e-commerce giant's stock after purchasing an additional 4,648 shares during the quarter. Amazon.com accounts for 2.2% of Granite Bay Wealth Management LLC's portfolio, making the stock its 11th largest position. Granite Bay Wealth Management LLC's holdings in Amazon.com were worth $10,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMZN. MilWealth Group LLC grew its position in Amazon.com by 79.0% during the fourth 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 position in Amazon.com in the fourth quarter worth approximately $45,000. Elkhorn Partners Limited Partnership grew its position in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC grew its position in shares of Amazon.com by 95.6% during the 4th 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 period. Finally, Prudent Man Investment Management Inc. increased its stake in shares of Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

More Amazon.com News

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

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

Amazon.com Price Performance

AMZN stock opened at $233.66 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 company's fifty day moving average price is $248.90 and its 200-day moving average price is $236.35. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company has a market capitalization of $2.51 trillion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.82 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. On average, equities analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 14,159 shares in the company, valued at $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the sale, the senior vice president owned 41,190 shares in the company, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,425 shares of company stock valued at $37,715,464 in the last 90 days. Company insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMZN. Royal Bank Of Canada reiterated a "buy" rating on shares of Amazon.com in a research report on Tuesday, June 16th. Wells Fargo & Company set a $322.00 price objective on Amazon.com and gave the stock an "overweight" rating in a research note on Tuesday. Bank of America lifted their price objective on Amazon.com from $298.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Roth Capital boosted their price objective on Amazon.com from $285.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, TD Securities raised shares of Amazon.com to a "buy" rating in a report on Monday, April 13th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and an average target price of $312.91.

Amazon.com Company Profile

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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