Marks Wealth LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Marks Wealth LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 14.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,180 shares of the e-commerce giant’s stock after selling 200 shares during the quarter. Amazon.com comprises approximately 0.1% of Marks Wealth LLC’s investment portfolio, making the stock its 22nd biggest position. Marks Wealth LLC’s holdings in Amazon.com were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cahaba Wealth Management Inc. grew its stake in Amazon.com by 4.2% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 13,219 shares of the e-commerce giant’s stock valued at $2,463,000 after acquiring an additional 532 shares in the last quarter. Meridiem Investment Management Ltd. lifted its holdings in shares of Amazon.com by 1.2% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 1,219,572 shares of the e-commerce giant’s stock worth $227,230,000 after acquiring an additional 14,520 shares during the last quarter. Kraft Asset Management LLC grew its position in Amazon.com by 10.2% in the 3rd quarter. Kraft Asset Management LLC now owns 1,241 shares of the e-commerce giant’s stock valued at $231,000 after acquiring an additional 115 shares in the last quarter. Gries Financial LLC boosted its position in Amazon.com by 31.9% in the 3rd quarter. Gries Financial LLC now owns 25,151 shares of the e-commerce giant’s stock valued at $4,686,000 after buying an additional 6,079 shares during the period. Finally, Legacy Financial Strategies LLC grew its stake in Amazon.com by 15.2% during the 3rd quarter. Legacy Financial Strategies LLC now owns 10,806 shares of the e-commerce giant’s stock worth $2,013,000 after purchasing an additional 1,426 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 1.4 %

NASDAQ:AMZN opened at $204.61 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. The company has a market capitalization of $2.15 trillion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. The stock has a fifty day simple moving average of $192.19 and a 200-day simple moving average of $186.06. Amazon.com, Inc. has a 52-week low of $141.50 and a 52-week high of $215.90.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. On average, equities research analysts expect that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMZN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research report on Monday, October 7th. TD Cowen lifted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price target on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Evercore ISI increased their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.45.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the transaction, the director now directly owns 94,630 shares in the company, valued at $19,858,105.50. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. 10.80% of the stock is owned by company insiders.

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.