Summit Financial Wealth Advisors LLC Reduces Stake in Amazon.com, Inc.

On January 6th, 2025, it was reported that Summit Financial Wealth Advisors LLC has reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% during the third quarter. The institutional investor now owns 7,085 shares of the renowned e-commerce company's stock after selling off 60 shares in the recent quarter. At the conclusion of this reporting period, Summit Financial's investment in Amazon was valued at approximately $1,320,000.

Other large investors have also made significant changes to their positions in Amazon. For example, Icon Wealth Advisors LLC boosted its stake by 20.5% during the third quarter, acquiring an additional 25,581 shares, bringing its total to 150,661 shares valued at $28,000. Similarly, PayPay Securities Corp increased its holdings by 64.6% in the second quarter, obtaining 163 shares worth $32,000. Additionally, Hoese & Co LLP and Bull Oak Capital LLC purchased new stakes valued at $37,000 and $45,000 respectively during the third quarter. Finally, Values First Advisors Inc. also entered a new stake in Amazon worth $56,000. Overall, hedge funds and institutional investors control about 72.20% of Amazon's stock.

Insider Transactions

In related news, on November 8th, insider Jeffrey P. Bezos sold a considerable portion of his shares, amounting to 2,996,362 shares at an average price of $208.85, totaling nearly $625.8 million. After this sale, Bezos still retains 917,416,976 shares valued at over $191.6 billion, reflecting a decrease of 0.33% in his ownership. Another insider, Director Jonathan Rubinstein, sold 5,004 shares on November 1st for approximately $1,000,049.40, reducing his ownership by 4.79%. In total, insiders have offloaded 6,032,344 shares worth $1.25 billion in the last ninety days, with corporate insiders owning 10.80% of the company's shares.

Market Analysis and Ratings

Amazon's stock has been a focus for several analysts recently. For instance, Maxim Group raised its price target for Amazon shares from $251.00 to $260.00, reaffirming a “buy” rating on November 1st. Likewise, Needham & Company reaffirmed a “buy” rating with a price target of $250.00 on December 10th. Additionally, BMO Capital Markets issued an “outperform” rating with a price target of $236.00. Meanwhile, Roth Mkm increased its target from $220.00 to $250.00, also giving it a “buy” rating. Monness Crespi & Hardt elevated their target from $225.00 to $245.00. Across the board, two analysts rate the stock as a hold, forty-one have issued a buy rating, and one has labeled it as a strong buy, leading to a consensus rating of “Moderate Buy” with a consensus price target of $243.44 according to MarketBeat.

Amazon's Stock Performance Overview

As of January 6th, AMZN shares opened at $224.19. The company showcases a quick ratio of 0.87, a current ratio of 1.09, and a robust debt-to-equity ratio of 0.21. With a market capitalization of $2.36 trillion, the shares exhibit a price-to-earnings ratio of 48.01 and a PEG ratio of 1.54. Over the last fifty days, Amazon's simple moving average has been $213.07, while its two-hundred day moving average stands at $194.21. Throughout the past year, Amazon has experienced a low of $144.05 and a high of $233.00.

Amazon recently announced its quarterly earnings on October 31st, revealing earnings per share (EPS) of $1.43, surpassing the expected $1.14. The company reported quarterly revenue of $158.88 billion, exceeding the estimates of $157.28 billion, marking an 11.0% increase from the same quarter last year. Analysts predict that Amazon.com will post an EPS of 5.29 for the current fiscal year.

Overview of Amazon.com

Amazon.com, Inc. is engaged in the retail sale of consumer products, providing advertising, and offering subscription services through both online and physical stores across North America and globally. The company is divided into three segments: North America, International, and Amazon Web Services (AWS). Moreover, it designs and sells electronic devices like Kindle, Fire tablets, Fire TVs, Echo, and more, while producing and developing media content.

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