Summit Financial Wealth Advisors LLC Sells 60 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Wealth Advisors LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZNFree Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,085 shares of the e-commerce giant’s stock after selling 60 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Amazon.com were worth $1,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AMZN. Elios Financial Group Inc. bought a new stake in shares of Amazon.com in the 3rd quarter worth approximately $316,000. Blue Investment Partners LLC raised its holdings in shares of Amazon.com by 9.3% in the 3rd quarter. Blue Investment Partners LLC now owns 109,261 shares of the e-commerce giant’s stock worth $20,359,000 after purchasing an additional 9,298 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Amazon.com by 2.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,043,336 shares of the e-commerce giant’s stock worth $3,548,370,000 after purchasing an additional 533,975 shares during the period. Acorn Wealth Advisors LLC raised its holdings in shares of Amazon.com by 21.3% in the 3rd quarter. Acorn Wealth Advisors LLC now owns 7,019 shares of the e-commerce giant’s stock worth $1,308,000 after purchasing an additional 1,233 shares during the period. Finally, Bowie Capital Management LLC raised its holdings in shares of Amazon.com by 28.6% in the 3rd quarter. Bowie Capital Management LLC now owns 465,903 shares of the e-commerce giant’s stock worth $86,812,000 after purchasing an additional 103,753 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $224.19 on Monday. The company has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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 has a 50 day moving average of $213.07 and a 200 day moving average of $194.21. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00.

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

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Susquehanna lifted their price target 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. Rosenblatt Securities lifted their price target on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Moffett Nathanson lifted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Pivotal Research initiated coverage on shares of Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.44.

View Our Latest Report on AMZN

Amazon.com Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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