Private Wealth Partners LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

On October 13, 2024, it was reported that Private Wealth Partners LLC has reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the second quarter, based on the latest Form 13F filing with the SEC. Following the sale of 1,101 shares in this quarter, the firm now holds a total of 368,315 shares in the e-commerce leader. Notably, Amazon.com now constitutes 5.3% of Private Wealth Partners LLC’s entire portfolio, ranking as their fifth largest investment. As of the recent filing, the value of Private Wealth Partners LLC’s Amazon holdings amounts to approximately $71,177,000.

Recent trading activity among other institutional investors also highlights shifts in their Amazon stakes. For instance, Madison Wealth Partners Inc increased its holdings in Amazon by 38.4% in the fourth quarter, bringing its total to 17,512 shares valued at around $2,661,000 after acquiring 4,859 additional shares. Other firms such as Taylor Financial Group Inc., Voisard Asset Management Group Inc., Sunpointe LLC, and Prospect Financial Services LLC have likewise made new investments or increased their stakes in Amazon, further illustrating a diverse set of institutional engagements with the stock. Currently, approximately 72.20% of Amazon’s stock is held by institutional investors and hedge funds.

Amazon.com Stock Overview

As of the latest trading session, shares of Amazon.com opened at $188.82. Over the past year, the stock has experienced fluctuations, recording a 52-week low of $118.35 and a 52-week high of $201.20. The company's fifty-day moving average stands at $179.58, while the 200-day moving average is $183.17. Amazon.com exhibits a debt-to-equity ratio of 0.23, reflecting relatively conservative borrowing, and has a current ratio of 1.10, indicating sufficient short-term liquidity. The company's market capitalization is estimated at $1.98 trillion, with a price-to-earnings ratio of 45.17.

Amazon recently reported its quarterly earnings on August 1, revealing earnings per share of $1.23, which exceeded the consensus estimate of $1.05 by $0.18. The company achieved revenue of $147.98 billion for the quarter, though this was slightly below analyst predictions of $148.63 billion. Analysts further predict that Amazon.com, Inc. is on track to post an EPS of 4.85 for the current year.

Insider Trading Activity

Recent insider trading indicates a continuing interest in Amazon stock. On September 24, SVP David Zapolsky sold 2,190 shares at an average price of $195.00, resulting in a total transaction value of $427,050. Following this transaction, he holds 62,420 shares valued at approximately $12,171,900, indicating no net change in his overall position percentage. Additionally, CEO Douglas J. Herrington sold 3,500 shares on August 1 at an average price of $189.25 for a total of $662,375. This sale led to his maintaining ownership of 503,753 shares valued at $95,335,255.22. Over the previous three months, corporate insiders have offloaded 54,355 shares of Amazon, accumulating worth over $9.8 million, with insiders presently owning 10.80% of the stock.

Wall Street Analyst Insights

Amazon’s performance has caught the attention of various analysts, with several investment houses issuing reports recently. Analysts from Benchmark have reiterated a “buy” rating with a price target of $200.00. Similarly, Evercore ISI has reissued an “outperform” rating with a $240.00 target, indicating strong confidence in the company’s growth. Meanwhile, Rosenblatt Securities raised its target to $221.00 while maintaining a buy rating, TD Cowen increased their target from $225.00 to $245.00, and Barclays lifted its target price from $220.00 to $235.00. Across the board, analysts depict a generally favorable view of Amazon, with 42 analysts recommending a buy, two recommending a hold, and one indicating a strong buy. This results in a consensus rating classified as “Moderate Buy” with an average target price of $224.00.

About Amazon.com, Inc.

Amazon.com, Inc. provides a wide array of services, including the retail sale of consumer goods, advertising, and subscription services, through its online platforms and physical stores both within North America and globally. The company operates across three segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells electronic devices, such as the Kindle, Fire tablets, Echo smart speakers, and develops various media content.

Investment, Stock, Amazon