Independent Advisor Alliance Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Independent Advisor Alliance lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 556,006 shares of the e-commerce giant’s stock after selling 7,278 shares during the period. Amazon.com accounts for approximately 3.8% of Independent Advisor Alliance’s investment portfolio, making the stock its 5th biggest holding. Independent Advisor Alliance’s holdings in Amazon.com were worth $103,601,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Parnassus Investments LLC increased its stake in Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after acquiring an additional 11,391,479 shares during the period. Strategic Financial Concepts LLC increased its stake in Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after acquiring an additional 3,903,889 shares during the period. Wulff Hansen & CO. increased its stake in Amazon.com by 20,517.4% during the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after acquiring an additional 3,865,485 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Amazon.com during the 3rd quarter worth $492,144,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMZN shares. Loop Capital lifted their price target on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Maxim Group lifted their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Moffett Nathanson lifted their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.44.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $224.19 on Monday. The business has a fifty day simple moving average of $213.07 and a two-hundred day simple moving average of $194.21. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the transaction, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. 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.