Amazon.com, Inc. $AMZN is Midwest Trust Co’s 6th Largest Position

Midwest Trust Co trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,752 shares of the e-commerce giant’s stock after selling 13,138 shares during the period. Amazon.com makes up 2.4% of Midwest Trust Co’s portfolio, making the stock its 6th biggest position. Midwest Trust Co’s holdings in Amazon.com were worth $194,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Fifth Third Bancorp lifted its holdings in Amazon.com by 46.1% in the 1st quarter. Fifth Third Bancorp now owns 5,813,715 shares of the e-commerce giant’s stock worth $1,210,822,000 after buying an additional 1,833,657 shares in the last quarter. Glass Wealth Management Co LLC grew its stake in shares of Amazon.com by 3.9% during the first quarter. Glass Wealth Management Co LLC now owns 37,135 shares of the e-commerce giant’s stock valued at $7,734,000 after acquiring an additional 1,403 shares in the last quarter. Sovran Advisors LLC grew its stake in shares of Amazon.com by 10.2% during the first quarter. Sovran Advisors LLC now owns 63,579 shares of the e-commerce giant’s stock valued at $13,242,000 after acquiring an additional 5,885 shares in the last quarter. Signature Resources Capital Management LLC increased its position in shares of Amazon.com by 6.8% during the first quarter. Signature Resources Capital Management LLC now owns 3,062 shares of the e-commerce giant’s stock worth $638,000 after acquiring an additional 195 shares during the last quarter. Finally, S. R. Schill & Associates increased its position in shares of Amazon.com by 20.1% during the first quarter. S. R. Schill & Associates now owns 1,088 shares of the e-commerce giant’s stock worth $227,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com News Summary

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 140,425 shares of company stock worth $37,715,464. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler set a $330.00 price target on Amazon.com in a report on Thursday, June 11th. Evercore lifted their price objective on Amazon.com from $285.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Benchmark upped their target price on Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Scotiabank reiterated an “outperform” rating and set a $325.00 target price (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Monness Crespi & Hardt raised their price target on shares of Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $312.91.

Amazon.com Stock Down 4.6%

NASDAQ:AMZN opened at $233.66 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $248.90 and a 200-day moving average of $236.35. The firm has a market capitalization of $2.51 trillion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.82 and a beta of 1.46. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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 firm had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.59 EPS. Analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current year.

Amazon.com Company 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.