First Citizens Bank & Trust Co. Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

First Citizens Bank & Trust Co. reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,547 shares of the e-commerce giant’s stock after selling 5,715 shares during the period. Amazon.com comprises approximately 0.6% of First Citizens Bank & Trust Co.’s portfolio, making the stock its 19th biggest holding. First Citizens Bank & Trust Co.’s holdings in Amazon.com were worth $36,064,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMZN. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Swedbank AB bought a new stake in shares of Amazon.com during the 1st quarter valued at about $2,239,757,000. Capital World Investors raised its stake in Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Capital Research Global Investors boosted its position in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after purchasing an additional 3,903,889 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Pivotal Research initiated coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein boosted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Price Performance

Shares of AMZN stock opened at $201.70 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $141.50 and a twelve month high of $215.90. The stock has a fifty day simple moving average of $191.69 and a two-hundred day simple moving average of $185.93. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 1.36 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts predict that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock valued at $1,256,503,289 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Company Profile

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.