Pinnacle Wealth Planning Services Inc. Sells 11,485 Shares of Amazon.com, Inc. (NASDAQ:AMZN)
Pinnacle Wealth Planning Services Inc. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 20.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,329 shares of the e-commerce giant's stock after selling 11,485 shares during the quarter. Amazon.com comprises about 0.2% of Pinnacle Wealth Planning Services Inc.'s investment portfolio, making the stock its 12th largest holding. Pinnacle Wealth Planning Services Inc.'s holdings in Amazon.com were worth $9,725,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC raised its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock worth $2,652,116,000 after acquiring an additional 12,018,120 shares during the period. Parnassus Investments LLC grew its stake in shares of Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant's stock worth $2,125,148,000 after acquiring an additional 11,391,479 shares in the last quarter. State Street Corp increased its stake in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Amazon.com by 23,742.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant's stock valued at $1,119,463,000 after purchasing an additional 5,081,217 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.
A number of research firms have recently issued reports on AMZN. Barclays raised their price objective on Amazon.com from $235.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Wolfe Research lifted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Oppenheimer lifted their price target on Amazon.com from $230.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $260.53.
Read Our Latest Research Report on AMZN
NASDAQ AMZN opened at $171.00 on Monday. The firm has a market cap of $1.81 trillion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $212.18 and its 200-day moving average is $209.22. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.
Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.
In other news, VP Shelley Reynolds sold 8,833 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares of the company's stock, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.
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.
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