PBMares Wealth Management LLC Sells 6,730 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

PBMares Wealth Management LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 35.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,306 shares of the e-commerce giant’s stock after selling 6,730 shares during the period. PBMares Wealth Management LLC’s holdings in Amazon.com were worth $2,293,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% during 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 during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the third quarter valued at about $45,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter valued at about $56,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Up 2.2 %

Shares of Amazon.com stock opened at $218.16 on Thursday. The company’s fifty day simple moving average is $196.02 and its 200-day simple moving average is $187.55. The stock has a market capitalization of $2.29 trillion, a PE ratio of 46.72, a P/E/G ratio of 1.41 and a beta of 1.16. Amazon.com, Inc. has a 1-year low of $143.13 and a 1-year high of $220.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued 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 business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMZN. Jefferies Financial Group upped their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Susquehanna upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Moffett Nathanson upped their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.20.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction 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 $12,171,900. This trade represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,030,183 shares of company stock worth $1,252,883,795 in the last three months. Company insiders own 10.80% of the company’s stock.

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.