First National Bank of Mount Dora Trust Investment Services Reduces Amazon.com Shares

On January 31, 2025, it was reported that First National Bank of Mount Dora Trust Investment Services has reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the fourth quarter of the previous year. According to their most recent Form 13F filed with the Securities and Exchange Commission (SEC), the bank now owns 25,040 shares of the major e-commerce player after selling 382 shares. The value of their holdings in Amazon.com was approximately $5,494,000 based on the latest SEC documentation.

Alongside First National Bank's adjustments, several other institutional investors and hedge funds have also modified their positions in AMZN. Icon Wealth Advisors LLC increased its holdings by 20.5% in the third quarter, acquiring an additional 25,581 shares, bringing their total to 150,661 shares worth about $28,000. Hoese & Co LLP and Bull Oak Capital LLC both established new positions in Amazon.com valued at approximately $37,000 and $45,000, respectively, during the same period. Additionally, Values First Advisors Inc. made a new investment worth $56,000, while IFS Advisors LLC significantly boosted its stake by 1,625.0%, ending up with 345 shares valued at $76,000 after purchasing 325 additional shares. Currently, institutional investors and hedge funds own 72.20% of Amazon's shares.

Recent Analyst Upgrades

Amazon (AMZN) has received updated price targets from various analysts recently. Oppenheimer raised its price goal from $220.00 to $230.00, rating the stock as "outperform" in a report dated November 1. Similarly, Wedbush increased its rating, setting a new target of $280.00, up from $260.00. Deutsche Bank also adjusted its price target, now at $232.00, maintaining a "buy" rating. Benchmark lifted its target from $200.00 to $215.00 while labeling the stock as a "buy." JMP Securities reiterated a "market outperform" rating and set a price objective of $285.00. Out of the analysts who have rated Amazon, two have given hold ratings, 42 have assigned buy ratings, and one analyst has rated it as a strong buy. According to data from MarketBeat.com, Amazon has an average rating of "Moderate Buy" with a consensus price target of $249.46.

Insider Selling Activity

In other news, CEO Matthew S. Garman sold 15,260 shares of Amazon on November 21 at an average sale price of $200.19, resulting in a transaction valued at $3,054,899.40. Following this sale, Garman holds 349,261 shares in Amazon, valued at approximately $69.9 million. This sale marked a 4.19% decrease in his holdings. Additionally, Director Jonathan Rubinstein sold 4,766 shares on November 7 for an average price of $209.85, totaling $1,000,145.10, leaving him with 94,630 shares worth about $19.9 million, representing a 4.79% decrease in his holdings as well. Over the past ninety days, insiders have sold 6,027,340 shares valued at around $1.25 billion, and company insiders now own 10.80% of the stock.

Current Stock Performance

As of Friday, NASDAQ:AMZN opened at $234.64. Amazon's stock has seen a twelve-month low of $151.61 and a high of $241.77. The company's market capitalization stands at $2.47 trillion, with a price-to-earnings ratio of 50.24 and a price-to-earnings-growth ratio of 1.31. The firm's quick ratio is 0.87, the current ratio is 1.09, and its debt-to-equity ratio is 0.21. The stock's 50-day moving average is $222.30, while the 200-day moving average is $198.30.

Amazon announced its latest quarterly earnings on October 31, reporting an earnings per share (EPS) of $1.43, which surpassed analysts' expectations of $1.14 by $0.29. The company posted a net margin of 8.04% and a return on equity of 22.41%. Revenue for the quarter reached $158.88 billion, outpacing expectations of $157.28 billion. This is an 11.0% increase compared to the same quarter last year, during which Amazon reported an EPS of $0.85. Analysts predict that Amazon.com, Inc.’s EPS for the current fiscal year will be 5.39.

Company Overview

Amazon.com, Inc. is heavily involved in the retail sale of consumer goods, advertising, and subscription services across both online and physical stores around the globe. The company operates through three key segments: North America, International, and Amazon Web Services (AWS). In addition to retail, Amazon produces and sells various electronic devices such as the Kindle e-reader, Fire tablets, Fire TVs, Echo smart speakers, and more; they are also involved in developing and producing media content.

Amazon, Stocks, Finance