Amazon.com, Inc. $AMZN Shares Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 81,293 shares of the e-commerce giant’s stock after acquiring an additional 5,178 shares during the quarter. Amazon.com comprises approximately 1.3% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 19th largest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Amazon.com were worth $18,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Headinvest LLC raised its stake in shares of Amazon.com by 30.9% in the 4th quarter. Headinvest LLC now owns 24,645 shares of the e-commerce giant’s stock worth $5,689,000 after buying an additional 5,817 shares in the last quarter. FWG Holdings LLC raised its stake in shares of Amazon.com by 9.0% in the 4th quarter. FWG Holdings LLC now owns 15,822 shares of the e-commerce giant’s stock worth $3,786,000 after buying an additional 1,309 shares in the last quarter. Truist Financial Corp raised its stake in shares of Amazon.com by 0.5% in the 4th quarter. Truist Financial Corp now owns 4,398,002 shares of the e-commerce giant’s stock worth $1,015,147,000 after buying an additional 21,407 shares in the last quarter. Peregrine Asset Advisers Inc. raised its stake in shares of Amazon.com by 186.2% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 30,337 shares of the e-commerce giant’s stock worth $7,002,000 after buying an additional 19,738 shares in the last quarter. Finally, Sun Financial Inc bought a new stake in shares of Amazon.com in the 4th quarter worth $2,298,000. Institutional investors own 72.20% of the company’s stock.

Key Headlines Impacting 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

Amazon.com Stock Down 0.4%

Shares of Amazon.com stock opened at $265.29 on Wednesday. The firm has a market capitalization of $2.85 trillion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.99 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. The stock’s fifty day moving average is $241.79 and its 200-day moving average is $231.93.

Amazon.com (NASDAQ:AMZN) last posted 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 firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction on 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 transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the transaction, the chief executive officer directly owned 2,175,766 shares in the company, valued at $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,552,494 over the last ninety days. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMZN shares. Wolfe Research reissued an “outperform” rating and issued a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research note on Thursday, April 30th. Oppenheimer boosted their price objective on Amazon.com from $275.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Truist Financial boosted their price objective on Amazon.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Scotiabank reissued an “outperform” rating and issued a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Roth Mkm boosted their price objective on Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.