E&G Advisors LP Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

E&G Advisors LP trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,883 shares of the e-commerce giant’s stock after selling 1,520 shares during the quarter. Amazon.com comprises 1.5% of E&G Advisors LP’s portfolio, making the stock its 15th largest position. E&G Advisors LP’s holdings in Amazon.com were worth $5,459,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rench Wealth Management Inc. raised its holdings in Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC boosted its position in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after buying an additional 4,740 shares during the period. Umpqua Bank grew its stake in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $4,270,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMZN. Citigroup reissued a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Wolfe Research boosted their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley upped their price objective on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $270.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Finally, The Goldman Sachs Group upped their price target on shares of Amazon.com from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Price Performance

NASDAQ AMZN opened at $214.35 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15. The company has a 50 day simple moving average of $226.99 and a 200-day simple moving average of $205.27. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,149 shares of company stock worth $24,606,905 over the last 90 days. 10.80% of the stock is currently owned by corporate 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.