Cedar Wealth Management LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cedar Wealth Management LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,311 shares of the e-commerce giant’s stock after selling 300 shares during the quarter. Amazon.com accounts for approximately 1.1% of Cedar Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Cedar Wealth Management LLC’s holdings in Amazon.com were worth $3,539,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Drexel Morgan & Co. boosted its holdings in shares of Amazon.com by 24.4% in the 2nd quarter. Drexel Morgan & Co. now owns 1,400 shares of the e-commerce giant’s stock worth $271,000 after purchasing an additional 275 shares in the last quarter. Waters Parkerson & CO. LLC lifted its position in Amazon.com by 3.4% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 15,025 shares of the e-commerce giant’s stock worth $2,904,000 after buying an additional 500 shares during the last quarter. Bridges Investment Management Inc. boosted its stake in Amazon.com by 134.7% in the second quarter. Bridges Investment Management Inc. now owns 1,613,024 shares of the e-commerce giant’s stock worth $311,717,000 after buying an additional 925,822 shares in the last quarter. Callan Capital LLC raised its stake in shares of Amazon.com by 21.2% during the second quarter. Callan Capital LLC now owns 25,872 shares of the e-commerce giant’s stock worth $5,000,000 after acquiring an additional 4,520 shares in the last quarter. Finally, Davidson Capital Management Inc. lifted its holdings in shares of Amazon.com by 22.4% in the 2nd quarter. Davidson Capital Management Inc. now owns 17,086 shares of the e-commerce giant’s stock worth $3,302,000 after acquiring an additional 3,122 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of Amazon.com in a report on Tuesday, October 15th. Bank of America reduced their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. UBS Group boosted their target price on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Barclays raised their price target on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Scotiabank started coverage on Amazon.com in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 price objective for the company. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $188.99 on Monday. The company has a market capitalization of $1.97 trillion, a PE ratio of 52.94, a PEG ratio of 1.38 and a beta of 1.14. The business has a fifty day moving average price of $181.98 and a 200-day moving average price of $183.43. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. As a group, equities analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at $95,335,255.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by corporate insiders.

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.