Dixon Mitchell Investment Counsel Inc. Sells Shares of Amazon.com, Inc. (NASDAQ:AMZN)

2 min read | January 29, 2025 08:24 PM AEDT | By Team Kalkine Media

Dixon Mitchell Investment Counsel Inc. Sells Shares of Amazon.com, Inc. (NASDAQ:AMZN) — Image source: Shutterstock

Institutional Investment Movements

Recently, several institutional investors altered their investment strategies in Amazon.com, Inc. (NASDAQ:AMZN). Dixon Mitchell Investment Counsel Inc. decreased its holdings by 39,191 shares, representing a 13% reduction in the fourth quarter. The organization now holds 262,586 shares, equating to 2.7% of its investment portfolio, valued at approximately $57.61 million.

Other institutional investors have made noteworthy changes as well. Heritage Family Offices LLP initiated a new position during the second quarter, while Crestwood Advisors Group LLC increased its shares by 6.4%, now holding 839,745 shares valued at over $162 million. United Asset Strategies Inc. and Consilium Wealth Advisory LLC also upped their stakes, reflecting a continued interest in the e-commerce giant from major financial entities. Notably, 72.20% of Amazon.com stock is owned by institutional investors and hedge funds.

Insider Transactions

Recent insider transactions reveal significant stock activity. Director Jonathan Rubinstein sold 5,004 shares valued at around $1 million, resulting in a 4.79% decrease in his ownership position. Similarly, insider Jeffrey P. Bezos sold 2,996,362 shares, reducing his shareholding by 0.33%, amounting to a transaction worth $625.79 million. Overall, insiders have sold over 6 million shares in the past quarter.

Analyst Perspectives

Amazon.com, Inc. has been the subject of extensive analyst coverage, with several firms adjusting their price targets upward. Loop Capital and Moffett Nathanson increased their price targets, aligning with the consensus that Amazon.com maintains robust market performance.

Market Performance

Amazon.com opened at $238.15, with a market capitalization of $2.50 trillion. The company's fifty-day moving average stands at $220.95, while its two-hundred-day average is $197.72. The e-commerce leader reported quarterly earnings per share of $1.43, overshooting the consensus estimate by $0.29, and boasting revenue growth of 11% compared to the previous year. Analysts have projected $5.39 earnings per share for the current fiscal year.

Company Profile

Amazon.com, Inc. operates in the retail and cloud computing sectors on a global scale. It primarily functions through three segments: North America, International, and Amazon Web Services (AWS). The company is known for its diverse product and service offerings, including the Kindle, Fire tablets, Echo, and other media and devices.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.