Private Wealth Partners LLC Reduces Stake in Amazon.com, Inc.

On October 13, 2024, it was reported that Private Wealth Partners LLC has made a slight reduction in its investment in Amazon.com, Inc. (NASDAQ:AMZN). According to the firm's recent Form 13F filing submitted to the SEC, the investment company decreased its ownership by 0.3% during the second quarter of the year.

Following the reduction, Private Wealth Partners LLC now holds 368,315 shares of Amazon, having sold off 1,101 shares in the quarter. Amazon.com represents 5.3% of the firm’s total investment portfolio, making it the fifth largest position in their holdings. As of the latest filings with the SEC, these shares are valued at approximately $71,177,000.

Recent Changes by Other Investors

Private Wealth Partners LLC isn't alone in adjusting its position in Amazon. Other institutional investors have also recently modified their stakes. For instance, Madison Wealth Partners Inc increased its stake in Amazon by a substantial 38.4% in the fourth quarter, acquiring an additional 4,859 shares and bringing its total to 17,512 shares worth $2,661,000. Taylor Financial Group Inc., Voisard Asset Management Group Inc., Sunpointe LLC, and Prospect Financial Services LLC also made new investments in Amazon during the same quarter, with respective values of $843,000, $557,000, $3,045,000, and $3,189,000. Overall, institutional investors and hedge funds control about 72.20% of Amazon’s shares.

Performance of Amazon.com Stock

As of the last trading session on Friday, NASDAQ:AMZN was priced at $188.82. The stock has seen a 52-week range, hitting a low of $118.35 and a high of $201.20. Its fifty-day moving average stands at $179.58 and the 200-day moving average at $183.17. Financial metrics indicate a debt-to-equity ratio of 0.23, a quick ratio of 0.88, and a current ratio of 1.10. Amazon.com, Inc continues to showcase a robust market capitalization at $1.98 trillion, alongside a price-to-earnings ratio of 45.17 and a PEG ratio of 1.38.

In recent quarterly earnings, announced on August 1st, Amazon reported earnings per share of $1.23, surpassing the consensus estimate of $1.05 by $0.18. The e-commerce giant reported revenues of $147.98 billion for the quarter, which fell slightly short of analysts' expectations of $148.63 billion. Looking ahead, analysts forecast an EPS of 4.85 for Amazon for the current year.

Insider Activity

Additionally, there have been notable insider transactions. On September 24th, SVP David Zapolsky sold 2,190 shares at an average price of $195.00, totaling $427,050, which equates to a negligible decrease in his holdings. After this sale, Zapolsky owns 62,420 shares valued at about $12,171,900. In another instance, CEO Douglas J. Herrington sold 3,500 shares at an average price of $189.25, gaining $662,375. Herrington's remaining shareholding stands at 503,753, valued at approximately $95,335,255. In the past three months, insiders have sold a total of 54,355 shares worth approximately $9,877,423. Currently, corporate insiders own around 10.80% of Amazon's shares.

Market Sentiment and Analyst Ratings

Brokerages have recently expressed varied opinions on AMZN. Benchmark reiterated a "buy" rating with a price target of $200.00. Similarly, Evercore ISI reinstated an "outperform" rating, setting their price target at $240.00. Rosenblatt Securities increased their price target from $220.00 to $221.00 while maintaining a "buy" rating. TD Cowen also raised its target from $225.00 to $245.00, giving a "buy" recommendation. Barclays took a bullish stance as well, increasing its price target from $220.00 to $235.00. Overall, the consensus rating among analysts stands at "Moderate Buy" with a consensus target price of $224.00. Currently, while two analysts have a hold rating, the majority—a striking forty-two—have assigned a buy rating to the stock.

About Amazon.com, Inc.

Amazon.com, Inc. is a global leader in e-commerce, offering a plethora of products and services, including retail sales, advertising, and subscription services, both online and in physical stores across North America and internationally. The company operates through three primary segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells a range of electronic devices including Kindle e-readers, Fire tablets, Fire TVs, Echo smart speakers, Ring security products, Blink cameras, and eero routers. Amazon also engages in the development and production of various media content.

Investment, Shares, Amazon