First Horizon 13F: Cuts Amazon.com (AMZN) Stake by $502K
Key Points
- First Horizon's reported value in Amazon is now about $24.57 million, reflecting a 2% decrease in its holdings.
- First Horizon held 98,601 $AMZN shares at quarter end, down 2% from the prior quarter.
- As of October 27, 2026, Amazon's shares recently traded around $249.01, which is about 0.4% above the closing price of $248.00 on October 23, 2026.
- Amazon has a market cap of approximately $2.68 trillion and a P/E ratio of 19.95, with analysts maintaining a strong buy consensus.
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First Horizon trimmed its position in Amazon.com, Inc. by 2,013 shares, bringing its total to 98,601 shares valued at approximately $24.57 million. This change was disclosed in a filing on October 26, 2026.
AMZN
Amazon.com, Inc.
Where Amazon.com Fits in First Horizon's Portfolio
The Amazon position accounts for 2.48% of First Horizon's reported portfolio, ranking 16th among its 1,514 holdings.
Other Institutional Activity in Amazon.com
Several other funds have been active with Amazon shares. HB Wealth Management increased its holdings by 51,115 shares, now owning 701,687 shares worth about $174.83 million. Pinnacle Wealth Management Advisory Group added 11,334 shares, bringing its total to 98,278 shares valued at approximately $24.49 million. True North Advisors, however, decreased its stake by 2,933 shares, now holding 129,617 shares worth about $32.29 million.
Amazon.com, Inc. Stock Up 0.4%
As of October 27, 2026, Amazon shares recently traded around $249.01, which is about 0.4% above the closing price of $248.00 on October 23, 2026. The stock is currently 13.3% below its 52-week high of $287.20 but is above its 52-week low of $196.00, showing some resilience in the current market.
Recent Earnings
In its most recent earnings report, Amazon reported trailing twelve-month revenue of approximately $775.68 billion and an EPS of $12.43. The next earnings report is scheduled for October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
23 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 3.6%. Revenue met estimates.
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Profit surprise
EBITDA beat by 31 percent. Operating income beat by 90 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
23 target raises.
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Earnings quality
Gross margin up 1.3 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Amazon had a strong first quarter with $181.5 billion in revenue and record 13.1 percent operating margin. Cloud computing services grew 28 percent year over year, the fastest pace in 15 quarters, driven by artificial intelligence demand. The company is investing tens of billions in data centers and chips, expecting these upfront costs to deliver strong returns in future years as customers pay for the capacity.
Guidance Amazon expects second quarter sales between $194 billion and $199 billion, up from first quarter's $181.5 billion. Operating income should reach $20 billion to $24 billion as the company invests heavily in artificial intelligence and new satellites for the Amazon LEO business.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Amazon.com, Inc.
Several insiders sold shares earlier this year. Officer Matthew S. Garman sold 14,541 shares on August 21, 2026, while David A. Zapolsky sold 15,430 shares on August 24, 2026. Douglas J. Herrington sold 1,000 shares on October 1, 2026, and another 1,000 shares on that same day.
Analysts Set New Price Targets
On October 26, 2026, UBS maintained a buy rating on Amazon with a price target of $348. This follows several other analysts who have also maintained their ratings, with targets ranging from $310 to $385. The consensus recommendation for Amazon remains strong buy, with a mean target price of approximately $331.72 based on 58 analyst opinions.
About Amazon.com
Amazon.com, Inc. is a major player in online retail, offering a wide range of consumer products and services. The company operates through various segments, including North America and Amazon Web Services (AWS). This position is significant as it reflects First Horizon's ongoing interest in a leading tech company amid fluctuating market conditions.
Bottom Line
Investors should keep an eye on Amazon's upcoming earnings report on October 29, 2026, and further institutional activity in the stock. First Horizon's recent trim of its Amazon position suggests a cautious approach as the market continues to evolve.
Related Filing Alerts
Source: First Horizon's 13F filing on $AMZN (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts