Heritage Wealth Management Inc. Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Heritage Wealth Management Inc. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,097 shares of the e-commerce giant’s stock after selling 330 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Amazon.com were worth $1,322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMZN. Meridian Investment Counsel Inc. grew its stake in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC boosted its holdings in Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares during the period. Cedar Point Capital Partners LLC increased its holdings in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after buying an additional 56 shares in the last quarter. Finally, Mason & Associates Inc lifted its position in shares of Amazon.com by 0.4% during the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after acquiring an additional 57 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last 90 days. 10.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMZN shares. Morgan Stanley raised their price objective on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Scotiabank lifted their price target on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. UBS Group increased their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday. Wedbush lifted their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $240.67.

Amazon.com Price Performance

Shares of AMZN stock opened at $231.15 on Wednesday. The firm has a fifty day moving average of $203.67 and a two-hundred day moving average of $190.54. The firm has a market cap of $2.43 trillion, a P/E ratio of 49.50, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 1-year low of $144.05 and a 1-year high of $233.00. 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 (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

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.