Robinson Smith Wealth Advisors LLC has increased its stake in Amazon.com, Inc. (NASDAQ: AMZN) by 4.3% during the second quarter of 2023, according to a report from Holdings Channel. The firm now holds 6,249 shares of the e-commerce giant, having acquired an additional 258 shares during the quarter. As of the end of June, Amazon.com represented approximately 1.1% of Robinson Smith’s investment portfolio, making it the firm’s 24th largest position overall, valued at around $1,371,000.
Several other institutional investors have also adjusted their holdings in Amazon recently. Brighton Jones LLC raised its position by 10.9% in the fourth quarter, bringing its total to 4,036,091 shares, valued at approximately $885.48 million. Revolve Wealth Partners LLC increased its stake by 4.1%, now owning 25,045 shares worth about $5.5 million. Additionally, Bank Pictet & Cie Europe AG and Highview Capital Management LLC DE lifted their holdings by 2.8% and 5.5%, respectively. Together, institutional investors control 72.20% of Amazon’s stock.
Insider Activity and Trading Details
In related developments, Amazon’s CEO, Andrew R. Jassy, sold 19,872 shares on November 21, 2023, at an average price of $216.94, amounting to a total of $4,311,031.68. Following this transaction, Jassy retains 2,208,310 shares in the company, valued at approximately $479.07 million, reflecting a 0.89% decrease in his ownership.
Director Keith Brian Alexander also sold shares, divesting 900 shares on November 17, 2023, for a total of $209,700. After this sale, he holds 7,170 shares, worth about $1.67 million, marking an 11.15% decrease in his stake. In total, insiders have sold 79,734 shares valued at $18.49 million over the past three months, with insiders owning 9.70% of the stock.
Current Stock Performance and Financial Overview
As of the latest trading session, shares of Amazon opened at $233.88. The company boasts a market capitalization of $2.50 trillion, a price-to-earnings (P/E) ratio of 35.65, and a price-to-earnings-growth (PEG) ratio of 1.52. Over the past year, the stock reached a low of $161.38 and a high of $258.60. Amazon’s financial metrics indicate a healthy position, with a debt-to-equity ratio of 0.15 and a current ratio of 1.02.
Amazon recently reported its earnings for the third quarter on October 30, 2023, revealing earnings per share (EPS) of $1.95, surpassing the consensus estimate of $1.57 by $0.38. The company recorded a net margin of 10.54%, a return on equity of 23.84%, and revenues of $180.17 billion, exceeding expectations of $177.53 billion. Compared to the same quarter last year, revenues increased by 13.4%.
Looking ahead, analysts forecast that Amazon.com, Inc. will achieve an EPS of 6.31 for the current fiscal year, reflecting strong growth potential for the company in the competitive e-commerce landscape.
