Pinnacle Wealth Management Advisory Group LLC Increases Stock Holdings in Amazon.com, Inc. $AMZN

Key Points

• Pinnacle Wealth Management Advisory Group increased its Amazon stake by 6.8% in the fourth quarter, adding 5,178 shares to bring its total to 81,293 shares worth about $18.8 million.
• Amazon’s latest quarterly results were strong, with EPS of $2.78 beating estimates and revenue of $181.5 billion, up 16.6% year over year.
• Despite insider sales by CEO Douglas J. Herrington and CEO Andrew R. Jassy, Wall Street remains bullish overall, with 57 Buy ratings and a consensus target price of $312.66.

Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,293 shares of the e-commerce giant's stock after buying an additional 5,178 shares during the quarter. Amazon.com accounts for approximately 1.3% of Pinnacle Wealth Management Advisory Group LLC's holdings, making the stock its 19th largest holding. Pinnacle Wealth Management Advisory Group LLC's holdings in Amazon.com were worth $18,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC increased its holdings in Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock worth $25,000 after purchasing an additional 60 shares during the last quarter. Sellwood Investment Partners LLC purchased a new stake in Amazon.com during the 3rd quarter worth approximately $27,000. MilWealth Group LLC grew its position in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after acquiring an additional 79 shares in the last quarter. Bridge Generations Wealth Management LLC grew its position in shares of Amazon.com by 2,330.0% in the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 233 shares in the last quarter. Finally, Cooksen Wealth LLC grew its position in shares of Amazon.com by 23.5% in the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock worth $54,000 after acquiring an additional 47 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Down 0.4%

NASDAQ:AMZN opened at $265.29 on Wednesday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The firm has a market capitalization of $2.85 trillion, a P/E ratio of 31.73, a P/E/G ratio of 1.99 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The business has a 50 day simple moving average of $241.79 and a 200 day simple moving average of $231.93.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer owned 471,361 shares in the company, valued at approximately $129,624,275. The trade was a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares of the company's stock, valued at $598,335,650. This trade represents a 1.42% 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. Over the last quarter, insiders have sold 195,774 shares of company stock worth $51,552,494. 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: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMZN. TD Securities upgraded Amazon.com to a "buy" rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wolfe Research reiterated an "outperform" rating and issued a $320.00 target price (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. Wedbush decreased their target price on Amazon.com from $340.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Finally, Pivotal Research reiterated a "buy" rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $312.66.

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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