Harbour Wealth Management Group Inc. Acquires New Holdings in Amazon.com, Inc. $AMZN

Harbour Wealth Management Group Inc. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,843 shares of the e-commerce giant’s stock, valued at approximately $1,118,000. Amazon.com makes up 0.9% of Harbour Wealth Management Group Inc.’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock valued at $158,348,557,000 after buying an additional 8,913,959 shares during the period. State Street Corp grew its holdings in Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC raised its position in Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock worth $51,753,622,000 after acquiring an additional 2,479,324 shares in the last quarter. Norges Bank bought a new stake in Amazon.com in the fourth quarter worth about $32,868,735,000. Finally, Northern Trust Corp lifted its holdings in Amazon.com by 0.3% in the 1st quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant’s stock valued at $18,527,354,000 after acquiring an additional 302,858 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 2.9%

NASDAQ:AMZN opened at $244.39 on Friday. The business’s fifty day moving average price is $256.04 and its 200 day moving average price is $234.05. The firm has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.78 and a beta of 1.44. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. During the same period last year, the company posted $1.59 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the transaction, the senior vice president owned 41,190 shares in the company, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the sale, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,614,434 in the last 90 days. Corporate insiders own 8.90% of the company’s stock.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon is exploring selling Trainium AI chips to external data-center customers, which could open a new revenue stream and strengthen its position in AI infrastructure. Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD
• Positive Sentiment: Amazon’s planned $10 billion Missouri data center buildout underscores rising AI infrastructure demand and suggests stronger AWS growth ahead. Should Amazon’s US$10 Billion Missouri AI Bet and Trainium Chip Sales Shift AMZN’s Cloud Narrative?
• Positive Sentiment: Bank of America reiterated a Buy rating and a $310 price target, framing Alexa+ and Prime Day as potential catalysts for adoption and sales growth. Amazon’s Alexa AI Could Be The Real Prime Day Winner: Analyst
• Positive Sentiment: Prime Day is expected to generate nearly $22 billion in gross merchandise value, offering a near-term retail lift and a showcase for Amazon’s AI shopping tools. Amazon Prime Day expected to generate nearly $22B in sales
• Positive Sentiment: Alexa+ is expanding internationally, including full rollout in Canada and availability in Brazil, which supports Amazon’s consumer AI monetization story. Here’s Why Amazon.com, Inc. (AMZN) is a Top Growth Stock to Buy According to Ray Dalio’s Bridgewater
• Positive Sentiment: Amazon’s AWS unit won new business as Zelis selected AWS to automate healthcare pricing and payments, showing continued enterprise cloud momentum. Zelis Picks AWS to Automate Healthcare Pricing and Payments

Analyst Ratings Changes

Several research firms have issued reports on AMZN. Pivotal Research restated a “buy” rating and issued a $320.00 price target (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. TD Cowen reaffirmed a “buy” rating and set a $350.00 target price on shares of Amazon.com in a research report on Tuesday, May 12th. Evercore upped their target price on Amazon.com from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. BNP Paribas Exane lifted their price target on Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Arete Research upped their price objective on shares of Amazon.com from $301.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.78.

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.