SOL Capital Management CO Sells 661 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

SOL Capital Management CO reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,741 shares of the e-commerce giant’s stock after selling 661 shares during the period. SOL Capital Management CO’s holdings in Amazon.com were worth $5,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Axecap Investments LLC acquired a new position in shares of Amazon.com in the 3rd quarter worth approximately $958,000. McAdam LLC lifted its holdings in Amazon.com by 7.6% in the third quarter. McAdam LLC now owns 25,455 shares of the e-commerce giant’s stock valued at $4,743,000 after buying an additional 1,802 shares during the period. Fulcrum Capital LLC boosted its position in Amazon.com by 10.7% during the third quarter. Fulcrum Capital LLC now owns 100,157 shares of the e-commerce giant’s stock valued at $18,662,000 after acquiring an additional 9,677 shares during the last quarter. Wallington Asset Management LLC grew its holdings in Amazon.com by 8.6% during the 3rd quarter. Wallington Asset Management LLC now owns 92,382 shares of the e-commerce giant’s stock worth $17,214,000 after acquiring an additional 7,345 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Amazon.com by 4.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 165,534 shares of the e-commerce giant’s stock worth $30,844,000 after acquiring an additional 6,354 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research analyst reports. 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. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a research report on Friday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 target price (up previously from $230.00) on shares of Amazon.com in a research report on Friday, November 1st. Needham & Company LLC raised their price target on shares of Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.20.

Amazon.com Price Performance

Amazon.com stock opened at $207.86 on Wednesday. The business’s 50 day simple moving average is $193.75 and its 200 day simple moving average is $186.52. Amazon.com, Inc. has a 12 month low of $142.81 and a 12 month high of $215.90. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.51, a PEG ratio of 1.32 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insiders Place Their Bets

In related news, 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 transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on 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 directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock worth $1,252,148,795 over the last quarter. 10.80% of the stock is currently owned by company insiders.

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.