Amazon.com, Inc. (NASDAQ:AMZN) is Chevy Chase Trust Holdings LLC’s 4th Largest Position

Chevy Chase Trust Holdings LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,186,766 shares of the e-commerce giant’s stock after selling 9,086 shares during the period. Amazon.com makes up about 3.5% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 4th largest holding. Chevy Chase Trust Holdings LLC’s holdings in Amazon.com were worth $1,152,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% in the second 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 in the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the third quarter valued at $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com in the third quarter valued at $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

AMZN stock opened at $218.94 on Friday. The firm has a 50 day moving average of $216.20 and a 200-day moving average of $195.34. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com 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 owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Susquehanna raised their price target on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Maxim Group raised their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. DA Davidson restated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Tuesday, December 10th. Finally, Evercore ISI raised their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.67.

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.