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

ACT Wealth Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125 shares of the e-commerce giant’s stock after selling 206 shares during the period. ACT Wealth Management LLC’s holdings in Amazon.com were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Capital Research Global Investors lifted its holdings in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Legal & General Group Plc lifted its holdings in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lowered Amazon.com from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $225.00 to $183.00 in a report on Monday, October 7th. Roth Mkm raised their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Maxim Group raised their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.48.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,859 shares of company stock worth $10,215,097. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $199.50 on Wednesday. The company has a market cap of $2.09 trillion, a P/E ratio of 42.72, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a 50-day moving average of $185.75 and a two-hundred day moving average of $184.07. Amazon.com, Inc. has a 1-year low of $138.36 and a 1-year high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate 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 was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. As a group, analysts anticipate that Amazon.com, Inc. will post 4.98 EPS for the current year.

Amazon.com Company 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.