Linscomb Wealth Inc. Sells 2,799 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Linscomb Wealth Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,552 shares of the e-commerce giant’s stock after selling 2,799 shares during the period. Amazon.com makes up approximately 0.8% of Linscomb Wealth Inc.’s portfolio, making the stock its 16th largest position. Linscomb Wealth Inc.’s holdings in Amazon.com were worth $15,568,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth about $45,000. Christopher J. Hasenberg Inc lifted its stake 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 valued at $58,000 after acquiring an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com during the 3rd quarter valued at about $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $227.05 on Friday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $209.04 and its 200 day moving average is $192.55. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm 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 business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research analyst reports. Wedbush increased their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Monness Crespi & Hardt lifted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler increased their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Roth Mkm boosted their price target on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

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.