Midwest Trust Co Sells 13,138 Shares of Amazon.com, Inc. $AMZN

Midwest Trust Co cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% in the 1st quarter, Holdings Channel reports. The firm owned 932,752 shares of the e-commerce giant’s stock after selling 13,138 shares during the period. Amazon.com makes up approximately 2.4% of Midwest Trust Co’s portfolio, making the stock its 6th largest holding. Midwest Trust Co’s holdings in Amazon.com were worth $194,264,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMZN. Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter worth $32,868,735,000. Auto Owners Insurance Co raised its position in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares during the period. J. Stern & Co. LLP raised its position in shares of Amazon.com by 20,598.0% during the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock worth $20,308,193,000 after purchasing an additional 87,557,736 shares during the period. Nuveen LLC acquired a new stake in shares of Amazon.com during the first quarter worth $11,674,091,000. Finally, Cardano Risk Management B.V. lifted its holdings in shares of Amazon.com by 879.4% during the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock valued at $6,431,199,000 after purchasing an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com 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 sale, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. The trade was a 52.21% 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 Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the sale, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at $129,624,275. This represents a 5.51% decrease in their ownership of the stock. 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 90 days, insiders have sold 140,425 shares of company stock valued at $37,715,464. 8.90% of the stock is currently owned by company insiders.

Key Headlines Impacting Amazon.com

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

Amazon.com Stock Down 4.6%

AMZN opened at $233.66 on Friday. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The business has a 50-day moving average of $248.90 and a 200-day moving average of $236.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. Equities research analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMZN shares. UBS Group set a $315.00 price target on Amazon.com in a research report on Monday, June 1st. Monness Crespi & Hardt boosted their price objective on Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wedbush reaffirmed an “outperform” rating and set a $293.00 price objective on shares of Amazon.com in a research note on Thursday. Maxim Group raised their target price on shares of Amazon.com from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Benchmark lifted their target price on shares of Amazon.com from $275.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.91.

About Amazon.com

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.