Laurel Oak Wealth Management LLC Has $16.62 Million Stake in Amazon.com, Inc. $AMZN

Key Points

• Laurel Oak Wealth Management increased its Amazon stake by 3.2% in the first quarter, bringing its holdings to 79,779 shares worth about $16.62 million. Amazon is now its fifth-largest position and makes up roughly 2.8% of the portfolio.
• Amazon’s latest quarterly results topped expectations, with EPS of $2.78 versus $1.63 expected and revenue of $181.52 billion, up 16.6% year over year. Analysts still expect the company to earn 7.75 EPS for the full year.
• Recent developments around Amazon include progress on its Leo satellite internet network, expansion of its AI chip and AWS strategy, and strong Prime Day shopping demand. Analysts remain largely bullish, with a consensus rating of Moderate Buy and an average price target of $312.79.

Laurel Oak Wealth Management LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,779 shares of the e-commerce giant's stock after buying an additional 2,472 shares during the period. Amazon.com accounts for about 2.8% of Laurel Oak Wealth Management LLC's investment portfolio, making the stock its 5th biggest position. Laurel Oak Wealth Management LLC's holdings in Amazon.com were worth $16,616,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crown Wealth Group LLC grew its position in Amazon.com by 1.7% during the 1st quarter. Crown Wealth Group LLC now owns 23,602 shares of the e-commerce giant's stock worth $4,916,000 after acquiring an additional 398 shares during the last quarter. HF Advisory Group LLC boosted its stake in Amazon.com by 11.9% in the first quarter. HF Advisory Group LLC now owns 22,690 shares of the e-commerce giant's stock worth $4,726,000 after purchasing an additional 2,406 shares in the last quarter. Fullerton Advisors LLC boosted its stake in Amazon.com by 4.3% in the first quarter. Fullerton Advisors LLC now owns 1,225 shares of the e-commerce giant's stock worth $255,000 after purchasing an additional 51 shares in the last quarter. Powers Advisory Group LLC grew its holdings in shares of Amazon.com by 2.1% during the first quarter. Powers Advisory Group LLC now owns 6,353 shares of the e-commerce giant's stock worth $1,323,000 after purchasing an additional 130 shares during the last quarter. Finally, Christine Messmer PC grew its holdings in shares of Amazon.com by 2.2% during the first quarter. Christine Messmer PC now owns 33,250 shares of the e-commerce giant's stock worth $6,925,000 after purchasing an additional 706 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Price Performance

Amazon.com stock opened at $242.67 on Friday. The business's 50-day simple moving average is $254.57 and its 200 day simple moving average is $234.57. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $177.28 billion. During the same period last year, the company earned $1.59 earnings per share. The company's revenue was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $239.77, for a total transaction of $239,770.00. Following the completion of the sale, the chief executive officer directly owned 484,527 shares of the company's stock, valued at $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the 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 completion of the transaction, the chief executive officer owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% 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 have sold 195,774 shares of company stock worth $51,643,704 over the last 90 days. Insiders own 8.90% of the company's stock.

Key Headlines Impacting 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, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. 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 recently issued reports on AMZN shares. Canaccord Genuity Group lifted their price target on Amazon.com from $300.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Roth Mkm increased 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. Truist Financial increased their price objective on shares of Amazon.com from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Pivotal Research reaffirmed a "buy" rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Moffett Nathanson boosted their target price on shares of Amazon.com from $283.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, April 7th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.79.

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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