GM Advisory Group LLC Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

GM Advisory Group LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 93,909 shares of the e-commerce giant’s stock after selling 297 shares during the period. Amazon.com makes up about 1.0% of GM Advisory Group LLC’s investment portfolio, making the stock its 24th largest position. GM Advisory Group LLC’s holdings in Amazon.com were worth $17,498,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMZN. PayPay Securities Corp lifted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at about $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc increased its position in 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 period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $220.22 on Friday. The company has a market cap of $2.32 trillion, a P/E ratio of 47.16, a P/E/G ratio of 1.54 and a beta of 1.16. The firm’s 50 day moving average is $211.67 and its two-hundred day moving average is $193.59. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. 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 issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 period last year, the company posted $0.85 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction 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 sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMZN has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt raised their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler upped their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Tigress Financial raised their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, DA Davidson restated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.00.

About Amazon.com

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.