Cedar Wealth Management LLC Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Cedar Wealth Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,082 shares of the e-commerce giant’s stock after selling 1,229 shares during the period. Amazon.com accounts for about 1.0% of Cedar Wealth Management LLC’s holdings, making the stock its 15th largest holding. Cedar Wealth Management LLC’s holdings in Amazon.com were worth $3,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PayPay Securities Corp grew its stake in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the 3rd quarter worth approximately $45,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter valued at approximately $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

NASDAQ AMZN opened at $219.39 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 46.98, a PEG ratio of 1.54 and a beta of 1.16. The business has a 50 day simple moving average of $210.97 and a 200 day simple moving average of $193.40. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced 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 business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. Analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. 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 quarter. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Telsey Advisory Group raised their price target on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a research report on Tuesday, December 3rd. Stifel Nicolaus upped their target price on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Redburn Atlantic lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Oppenheimer upped their price objective on shares of Amazon.com from $220.00 to $230.00 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-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $243.00.

Read Our Latest Analysis on Amazon.com

Amazon.com Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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