Torrey Payne Wealth Management LLC Makes New Investment in Amazon.com, Inc. $AMZN

Torrey Payne Wealth Management LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,100 shares of the e-commerce giant’s stock, valued at approximately $739,000. Amazon.com comprises approximately 0.7% of Torrey Payne Wealth Management LLC’s portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. Vanguard Group Inc. increased its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares during the last quarter. State Street Corp raised its stake in Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC lifted its holdings in Amazon.com by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the last quarter. Norges Bank purchased a new stake in Amazon.com during the fourth quarter valued at about $32,868,735,000. Finally, Northern Trust Corp increased its stake in shares of Amazon.com by 0.3% in the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant’s stock worth $18,527,354,000 after purchasing an additional 302,858 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 2.9%

AMZN stock opened at $244.39 on Friday. The company’s 50 day moving average is $256.04 and its 200 day moving average is $234.05. The stock has a market cap of $2.63 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth 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 earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. During the same period in the previous year, the business posted $1.59 earnings per share. Amazon.com’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. Truist Financial increased their price target on shares of Amazon.com from $310.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, May 29th. William Blair reaffirmed an “outperform” rating on shares of Amazon.com in a research note on Thursday, April 9th. Susquehanna reaffirmed a “positive” rating and set a $325.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. UBS Group set a $315.00 target price on shares of Amazon.com in a research note on Monday, June 1st. Finally, Needham & Company LLC raised their price target on shares of Amazon.com from $265.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $312.78.

Key Amazon.com News

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

Insider Activity

In related news, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total value of $620,003.94. Following the transaction, the vice president owned 119,780 shares of the company’s stock, valued at $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Andrew R. Jassy sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. This represents a 0.90% 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. In the last 90 days, insiders have sold 195,774 shares of company stock worth $51,614,434. Corporate insiders own 8.90% of the company’s stock.

Amazon.com 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.