Pinnacle Wealth Management Advisory Group LLC Grows Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,376 shares of the e-commerce giant’s stock after buying an additional 4,562 shares during the period. Amazon.com comprises about 1.4% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 18th largest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in Amazon.com were worth $13,793,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Collective Family Office LLC raised its stake in shares of Amazon.com by 9.7% in the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after acquiring an additional 819 shares in the last quarter. Phillips Wealth Planners LLC raised its stake in shares of Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after acquiring an additional 224 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Amazon.com in the fourth quarter valued at $5,926,000. Clearstead Trust LLC raised its stake in shares of Amazon.com by 25.8% in the fourth quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock valued at $9,958,000 after acquiring an additional 13,454 shares in the last quarter. Finally, Summa Corp. acquired a new stake in shares of Amazon.com in the fourth quarter valued at $1,506,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the sale, the senior vice president now owns 59,500 shares in the company, valued at $11,602,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $186.49 on Monday. The firm has a market cap of $1.94 trillion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The firm’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $181.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Tigress Financial raised their price target on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Barclays raised their price target on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Finally, Maxim Group raised their price target on Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $222.49.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.