VCI Wealth Management LLC Decreases Stake in Amazon.com, Inc. $AMZN

VCI Wealth Management LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 37,815 shares of the e-commerce giant’s stock after selling 2,198 shares during the quarter. Amazon.com comprises 2.2% of VCI Wealth Management LLC’s portfolio, making the stock its 14th largest holding. VCI Wealth Management LLC’s holdings in Amazon.com were worth $7,876,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares in the last quarter. State Street Corp increased its position in shares of Amazon.com by 1.8% in the 4th 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 raised its holdings 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 valued at $51,753,622,000 after purchasing an additional 2,479,324 shares in the last quarter. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter valued at $32,868,735,000. Finally, Auto Owners Insurance Co lifted its position in shares of Amazon.com by 27,376.7% during 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 purchasing an additional 98,090,585 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, June 18th. BNP Paribas Exane raised their price target on Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Phillip Securities raised Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 price target for the company in a report on Wednesday, May 13th. Scotiabank reaffirmed an “outperform” rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, DZ Bank increased their price objective on Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a report on Monday, May 4th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.79.

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, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $242.67 on Friday. The company’s fifty day moving average price is $254.57 and its 200 day moving average price is $234.57. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. As a group, sell-side analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 31,352 shares of Amazon.com stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares of the company’s stock, valued at $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is currently owned by corporate 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.