Northeast Financial Consultants Inc Sells 340 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Northeast Financial Consultants Inc lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,468 shares of the e-commerce giant’s stock after selling 340 shares during the quarter. Amazon.com comprises approximately 2.4% of Northeast Financial Consultants Inc’s holdings, making the stock its 11th largest holding. Northeast Financial Consultants Inc’s holdings in Amazon.com were worth $55,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Icon Wealth Advisors LLC increased its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the period. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new stake in Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter valued at $56,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. Loop Capital upped their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Mizuho upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a report on Friday. Finally, Robert W. Baird upped their target price on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.33.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the 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 sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $218.46 on Tuesday. The company has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 46.78, a P/E/G ratio of 1.54 and a beta of 1.14. The firm’s 50 day simple moving average is $216.66 and its 200 day simple moving average is $195.57. 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, Inc. has a fifty-two week low of $149.91 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.