Miller Wealth Advisors LLC Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Miller Wealth Advisors LLC trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,003 shares of the e-commerce giant’s stock after selling 6,574 shares during the quarter. Amazon.com comprises 27.7% of Miller Wealth Advisors LLC’s portfolio, making the stock its biggest holding. Miller Wealth Advisors LLC’s holdings in Amazon.com were worth $50,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMZN. PayPay Securities Corp increased 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 valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter worth about $45,000. Values First Advisors Inc. bought a new stake in Amazon.com during the 3rd quarter worth about $56,000. Finally, Christopher J. Hasenberg Inc raised its holdings 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 last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $227.46 on Friday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $231.20. The company has a market cap of $2.39 trillion, a P/E ratio of 48.71, 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 quick ratio of 0.87 and a current ratio of 1.09. The stock’s 50-day simple moving average is $201.65 and its 200 day simple moving average is $189.72.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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. The firm 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%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Rosenblatt Securities lifted their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America increased their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Mizuho lifted their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given 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 $238.87.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Insiders own 10.80% of the company’s stock.

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.