Smithbridge Asset Management Inc. DE Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Smithbridge Asset Management Inc. DE decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.2% in the second quarter, Holdings Channel reports. The fund owned 58,936 shares of the e-commerce giant’s stock after selling 4,576 shares during the period. Amazon.com accounts for 2.4% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 9th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Amazon.com were worth $11,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Signet Investment Advisory Group Inc. increased its stake in shares of Amazon.com by 0.6% in the second quarter. Signet Investment Advisory Group Inc. now owns 14,521 shares of the e-commerce giant’s stock worth $2,806,000 after purchasing an additional 85 shares during the period. Hedeker Wealth LLC grew its holdings in Amazon.com by 0.7% in the 2nd quarter. Hedeker Wealth LLC now owns 71,230 shares of the e-commerce giant’s stock valued at $13,765,000 after buying an additional 489 shares during the last quarter. MBL Wealth LLC increased its position in Amazon.com by 6.3% in the 2nd quarter. MBL Wealth LLC now owns 22,515 shares of the e-commerce giant’s stock worth $4,351,000 after buying an additional 1,337 shares during the period. Solitude Financial Services lifted its holdings in shares of Amazon.com by 56.8% during the second quarter. Solitude Financial Services now owns 2,762 shares of the e-commerce giant’s stock worth $534,000 after buying an additional 1,000 shares during the last quarter. Finally, CAP Partners LLC lifted its holdings in shares of Amazon.com by 1.7% during the second quarter. CAP Partners LLC now owns 15,433 shares of the e-commerce giant’s stock worth $2,982,000 after buying an additional 259 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 in the last 90 days. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research report on Friday, August 2nd. Piper Sandler lowered their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays raised their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $222.49.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $177.89 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The stock has a market capitalization of $1.85 trillion, a P/E ratio of 49.83, a P/E/G ratio of 1.34 and a beta of 1.15. The business has a 50-day moving average price of $181.54 and a two-hundred day moving average price of $181.18.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Equities analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.