Aaron Wealth Advisors LLC Reduces Stock Holdings in Amazon.com, Inc. $AMZN

Aaron Wealth Advisors LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 104,868 shares of the e-commerce giant’s stock after selling 25,042 shares during the period. Amazon.com comprises about 1.2% of Aaron Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Aaron Wealth Advisors LLC’s holdings in Amazon.com were worth $21,841,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after purchasing an additional 8,913,959 shares during the period. State Street Corp lifted its holdings in shares of Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amazon.com by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock worth $51,753,622,000 after purchasing an additional 2,479,324 shares in the last quarter. Norges Bank bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $32,868,735,000. Finally, Auto Owners Insurance Co grew its stake in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after buying an additional 98,090,585 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

More Amazon.com News

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, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Analyst Upgrades and Downgrades

AMZN has been the subject of several analyst reports. New Street Research raised their price target on shares of Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Rosenblatt Securities lifted their target price on Amazon.com from $296.00 to $332.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Bank of America boosted their price target on Amazon.com from $298.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $325.00 price target (up from $275.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.79.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a PEG ratio of 1.80 and a beta of 1.46. The firm has a fifty day simple moving average of $254.82 and a two-hundred day simple moving average of $234.51. 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) last issued 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. The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 earnings per share. On average, analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the firm’s stock in a transaction dated 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 owned 484,527 shares in the company, valued at $116,175,038.79. This represents a 0.21% 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 sold 195,774 shares of company stock valued at $51,643,704 over the last quarter. 8.90% of the stock is owned by company insiders.

Amazon.com 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.