Summit Financial Wealth Advisors LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Wealth Advisors LLC has made a slight adjustment to its holdings of Amazon.com, Inc. (NASDAQ:AMZN), decreasing its position by 0.8% in the third quarter of the year. According to recent reports, the institutional investor now owns 7,085 shares of Amazon after selling 60 shares during this period. At the close of the most recent reporting period, Summit Financial’s stake in Amazon was valued at approximately $1,320,000.

In addition to Summit Financial's decision, several other significant investors have also made changes to their stakes in Amazon recently. Icon Wealth Advisors LLC increased its holdings by 20.5% in the third quarter, bringing their total shares to 150,661, valued at $28,000 after acquiring an additional 25,581 shares. Similarly, PayPay Securities Corp raised its holdings by 64.6% in the second quarter, now owning 163 shares valued at $32,000 after an additional purchase of 64 shares. Additionally, new stakes were acquired by Hoese & Co LLP, valued at $37,000; Bull Oak Capital LLC, valued at $45,000; and Values First Advisors Inc., valued at $56,000.

A significant portion of Amazon's stock—72.20%—is owned by hedge funds and institutional investors.

Insider Transactions at Amazon.com

Recent insider transactions have also caught the attention of market watchers. Notably, insider Jeffrey P. Bezos sold 2,996,362 shares on November 8, fetching an average price of $208.85 per share, totaling over $625 million. Post-sale, Bezos retains direct ownership of 917,416,976 shares, valued at approximately $191.60 billion, marking a decrease of 0.33% in his ownership.

Moreover, Director Jonathan Rubinstein executed a sale of 5,004 shares on November 1, receiving an average price of $199.85, which amounted to just over $1 million. After this transaction, Rubinstein’s ownership stands at 99,396 shares, valued at about $19.86 million, reflecting a 4.79% decrease in ownership. Over the past ninety days, insiders have sold a total of 6,032,344 shares valued at approximately $1.25 billion, with corporate insiders now holding 10.80% of Amazon's stock.

Analyst Ratings and Target Prices

The stock has been a focal point among analysts, with several research firms providing updates. Maxim Group recently raised its target price on Amazon's shares from $251.00 to $260.00, maintaining a “buy” rating. Needham & Company restated a “buy” stance with a target price of $250.00 in December. BMO Capital Markets also reiterated an “outperform” rating with a target of $236.00. Other analysts have set target prices ranging from $220.00 to $250.00, contributing to a consensus rating of “Moderate Buy” with an average target price of $243.44.

Amazon.com Stock Details

As reported, AMZN opened at $224.19 recently. The company holds a quick ratio of 0.87, with a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Market capitalization for Amazon.com, Inc. is estimated at $2.36 trillion, with a price-to-earnings ratio of 48.01 and a PEG ratio of 1.54. The stock has experienced a 52-week low of $144.05 and a high of $233.00, with a current moving average of $213.07 over the past fifty days.

Amazon's latest quarterly earnings, published on October 31, revealed earnings of $1.43 per share, surpassing the consensus estimate of $1.14, with quarterly revenues reaching $158.88 billion against an anticipated $157.28 billion. The company experienced a net margin of 8.04% and a return on equity of 22.41%, with revenue growth from the previous year showing an increase of 11.0%.

About Amazon.com, Inc.

Amazon.com, Inc. is known for its broad range of consumer product sales, alongside advertising and subscriptions through both online and physical channels, operating in North America and internationally. The company diversifies its offerings through three main segments: North America, International, and Amazon Web Services (AWS). In addition to retail, Amazon manufactures and sells electronic devices such as Kindle, Fire tablets, and Echo, and also develops media content.

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