Abacus Wealth Partners LLC Has $1 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Abacus Wealth Partners LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,384 shares of the e-commerce giant’s stock after selling 226 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Amazon.com were worth $1,003,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. Capital Research Global Investors increased its position in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares during the period. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,855 shares of company stock valued at $9,215,048 in the last 90 days. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $186.40 on Friday. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 44.59, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 1-year low of $131.71 and a 1-year high of $201.20. The business has a 50-day moving average price of $184.40 and a two-hundred day moving average price of $183.65.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Analysts Set New Price Targets

AMZN has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price objective on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $225.00 to $183.00 in a research report on Monday, October 7th. Sanford C. Bernstein boosted their price objective on Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Truist Financial upped their target price on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.76.

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.