ACT Wealth Management LLC Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

ACT Wealth Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,125 shares of the e-commerce giant’s stock after selling 206 shares during the quarter. ACT Wealth Management LLC’s holdings in Amazon.com were worth $210,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Howard Financial Services LTD. lifted its stake in Amazon.com by 2.5% during the third quarter. Howard Financial Services LTD. now owns 24,780 shares of the e-commerce giant’s stock worth $4,617,000 after purchasing an additional 598 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in Amazon.com by 30.6% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 21,972 shares of the e-commerce giant’s stock valued at $4,094,000 after buying an additional 5,148 shares during the last quarter. Gill Capital Partners LLC lifted its stake in Amazon.com by 21.3% in the third quarter. Gill Capital Partners LLC now owns 8,931 shares of the e-commerce giant’s stock valued at $1,664,000 after buying an additional 1,567 shares during the last quarter. StoneCrest Wealth Management Inc. lifted its stake in Amazon.com by 0.4% in the third quarter. StoneCrest Wealth Management Inc. now owns 30,281 shares of the e-commerce giant’s stock valued at $5,642,000 after buying an additional 113 shares during the last quarter. Finally, Sovereign Financial Group Inc. lifted its stake in Amazon.com by 4.2% in the third quarter. Sovereign Financial Group Inc. now owns 19,100 shares of the e-commerce giant’s stock valued at $3,559,000 after buying an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,859 shares of company stock worth $10,215,097 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Up 1.9 %

Shares of NASDAQ:AMZN opened at $199.50 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52-week low of $138.36 and a 52-week high of $201.20. The stock’s fifty day simple moving average is $185.75 and its 200-day simple moving average is $184.07. The company has a market capitalization of $2.09 trillion, a P/E ratio of 42.72, a P/E/G ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Amazon.com, Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMZN shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial boosted their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group boosted their price objective on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. TD Cowen boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI boosted their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.48.

Amazon.com Profile

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.