Carmel Capital Partners LLC Sells 288 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Carmel Capital Partners LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,328 shares of the e-commerce giant’s stock after selling 288 shares during the quarter. Carmel Capital Partners LLC’s holdings in Amazon.com were worth $806,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Meridian Investment Counsel Inc. increased its stake in shares of Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. O Connor Financial Group LLC increased its position 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 purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its stake 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 purchasing an additional 55 shares during the period. Cedar Point Capital Partners LLC boosted its holdings in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after purchasing an additional 56 shares during the last quarter. Finally, Mason & Associates Inc grew its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after buying an additional 57 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America increased their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley raised their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Monness Crespi & Hardt upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Pivotal Research began coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Finally, Mizuho upped their price objective 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. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.00.

Insiders Place Their Bets

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on 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 sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $220.52 on Thursday. The company has a market cap of $2.32 trillion, a price-to-earnings ratio of 47.22, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a fifty day moving average price of $204.37 and a 200-day moving average price of $190.75.

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