Whitaker Myers Wealth Managers LTD. Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Whitaker Myers Wealth Managers LTD. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,505 shares of the e-commerce giant’s stock after selling 159 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Amazon.com were worth $1,212,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock worth $32,894,000 after purchasing an additional 43,759 shares during the period. Quent Capital LLC boosted its position in shares of Amazon.com by 3.3% during the 1st quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after purchasing an additional 1,081 shares during the period. Wellington Shields & Co. LLC raised its position in Amazon.com by 0.7% in the first quarter. Wellington Shields & Co. LLC now owns 26,973 shares of the e-commerce giant’s stock valued at $4,865,000 after purchasing an additional 183 shares during the period. BCU Wealth Advisors LLC acquired a new position in Amazon.com during the first quarter worth $220,000. Finally, Wellington Shields Capital Management LLC boosted its position in shares of Amazon.com by 10.1% during the first quarter. Wellington Shields Capital Management LLC now owns 91,791 shares of the e-commerce giant’s stock worth $16,557,000 after buying an additional 8,395 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMZN. Robert W. Baird lifted their target price on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC upped their price target on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Evercore ISI upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.77.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % 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. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com 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 sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,011,423 shares of company stock valued at $1,249,093,896. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $202.88 on Thursday. The company has a market capitalization of $2.13 trillion, a PE ratio of 43.44, a P/E/G ratio of 1.36 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $141.50 and a 52-week high of $215.90. The company has a 50-day simple moving average of $192.56 and a 200-day simple moving average of $186.18. 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping 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 analyst estimates of $157.28 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Amazon.com Company 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.