Pinnacle Wealth Planning Services Inc. Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Wealth Planning Services Inc. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.6% during the 4th quarter, according to its most recent 13F filing with the SEC. 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 holdings, making the stock its 12th biggest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Amazon.com were worth $9,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Proficio Capital Partners LLC grew its position in Amazon.com by 17,054.5% in the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Parnassus Investments LLC boosted its stake in shares of Amazon.com by 82,457.3% in 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 buying an additional 11,391,479 shares during the last quarter. State Street Corp grew its holdings in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. Geode Capital Management LLC lifted its holdings in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position 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 worth $1,119,463,000 after purchasing an additional 5,081,217 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Maxim Group upped their price target on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. TD Cowen upped their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Westpark Capital started coverage on Amazon.com in a report on Tuesday, April 1st. They set a “buy” rating and a $280.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $260.53.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $171.00 on Monday. The company has a market cap of $1.81 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock’s fifty day moving average price is $212.18 and its 200 day moving average price is $209.22. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company Profile

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.