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

Pinnacle Wealth Management Advisory Group LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2,049.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,671 shares of the e-commerce giant’s stock after buying an additional 52,127 shares during the period. Amazon.com makes up about 0.9% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 24th biggest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Amazon.com were worth $5,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Emerald Advisors LLC raised its stake in Amazon.com by 0.5% in the 1st quarter. Emerald Advisors LLC now owns 831 shares of the e-commerce giant’s stock worth $2,709,000 after purchasing an additional 4 shares in the last quarter. Sage Financial Management Group Inc. raised its stake in Amazon.com by 6.5% in the 1st quarter. Sage Financial Management Group Inc. now owns 66 shares of the e-commerce giant’s stock worth $215,000 after purchasing an additional 4 shares in the last quarter. BlackDiamond Wealth Management Inc. raised its stake in Amazon.com by 1.9% in the 1st quarter. BlackDiamond Wealth Management Inc. now owns 217 shares of the e-commerce giant’s stock worth $707,000 after purchasing an additional 4 shares in the last quarter. Tandem Capital Management Corp ADV raised its stake in Amazon.com by 4.0% in the 1st quarter. Tandem Capital Management Corp ADV now owns 129 shares of the e-commerce giant’s stock worth $372,000 after purchasing an additional 5 shares in the last quarter. Finally, BCGM Wealth Management LLC raised its stake in Amazon.com by 3.0% in the 1st quarter. BCGM Wealth Management LLC now owns 172 shares of the e-commerce giant’s stock worth $428,000 after purchasing an additional 5 shares in the last quarter. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMZN shares. Monness Crespi & Hardt dropped their target price on shares of Amazon.com from $172.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Atlantic Securities cut their price target on shares of Amazon.com from $160.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Piper Sandler reduced their target price on Amazon.com from $175.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. JMP Securities reduced their target price on Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Finally, Sanford C. Bernstein reduced their target price on Amazon.com from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and forty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.91.

Amazon.com Stock Performance

Shares of AMZN opened at $100.79 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68. The stock has a 50-day moving average of $113.93 and a 200-day moving average of $118.21. The company has a market cap of $1.03 trillion, a PE ratio of 92.51, a P/E/G ratio of 7.67 and a beta of 1.23. Amazon.com, Inc. has a one year low of $85.87 and a one year high of $188.11.

Amazon.com (NASDAQ:AMZNGet Rating) last issued its earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. The company had revenue of $127.10 billion during the quarter, compared to the consensus estimate of $127.47 billion. Amazon.com had a return on equity of 14.44% and a net margin of 2.25%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. On average, equities research analysts predict that Amazon.com, Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity

In other news, SVP David Zapolsky sold 10,480 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $145.01, for a total value of $1,519,704.80. Following the completion of the sale, the senior vice president now directly owns 60,260 shares in the company, valued at approximately $8,738,302.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Amazon.com news, SVP David Zapolsky sold 10,480 shares of Amazon.com stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $145.01, for a total transaction of $1,519,704.80. Following the completion of the transaction, the senior vice president now owns 60,260 shares in the company, valued at approximately $8,738,302.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 7,448 shares of Amazon.com stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $134.25, for a total value of $999,894.00. Following the transaction, the chief executive officer now owns 498,572 shares of the company’s stock, valued at approximately $66,933,291. The disclosure for this sale can be found here. Insiders sold a total of 298,393 shares of company stock worth $12,497,340 in the last three months. Company insiders own 12.70% of the company’s stock.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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