Spectrum Planning & Advisory Services Inc. Decreases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Spectrum Planning & Advisory Services Inc. decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 13.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,012 shares of the e-commerce giant’s stock after selling 1,268 shares during the quarter. Amazon.com makes up 1.4% of Spectrum Planning & Advisory Services Inc.’s portfolio, making the stock its 16th biggest holding. Spectrum Planning & Advisory Services Inc.’s holdings in Amazon.com were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Semus Wealth Partners LLC raised its position in Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares during the period. Meridian Investment Counsel Inc. increased its position in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC increased its holdings in shares of Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC lifted its position in shares of Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC increased its position in shares of Amazon.com by 4.4% during the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AMZN. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. The Goldman Sachs Group raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Pivotal Research initiated coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective on the stock. Benchmark boosted their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $221.30 on Tuesday. The firm has a market capitalization of $2.33 trillion, a P/E ratio of 47.39, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00. The company’s fifty day moving average price is $209.73 and its 200 day moving average price is $192.89.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Amazon.com, Inc. will post 5.29 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.