Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Cut by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,447 shares of the e-commerce giant’s stock after selling 145 shares during the quarter. Amazon.com comprises about 4.3% of Pinnacle Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Pinnacle Wealth Management LLC’s holdings in Amazon.com were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMZN. Norges Bank bought a new position in Amazon.com in the fourth quarter worth about $27,266,582,000. Capital World Investors grew its holdings in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Vanguard Group Inc. raised its position in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Amazon.com by 17,054.5% in the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Finally, Capital International Investors boosted its position in shares of Amazon.com by 26.5% during the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 13,570 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the transaction, the senior vice president now owns 47,030 shares in the company, valued at $9,519,342.30. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,537 shares of company stock valued at $20,018,625 in the last 90 days. Corporate insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMZN shares. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Canaccord Genuity Group reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Rosenblatt Securities boosted their price target on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.57.

Amazon.com Trading Down 0.5%

Shares of Amazon.com stock opened at $205.71 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business has a fifty day simple moving average of $190.77 and a two-hundred day simple moving average of $208.61. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

About Amazon.com

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.