Angeles Investment Advisors LLC Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Angeles Investment Advisors LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,682 shares of the e-commerce giant’s stock after selling 744 shares during the quarter. Amazon.com accounts for 0.2% of Angeles Investment Advisors LLC’s portfolio, making the stock its 28th biggest holding. Angeles Investment Advisors LLC’s holdings in Amazon.com were worth $4,040,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake 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 acquiring an additional 3,903,889 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Amazon.com by 20,517.4% during the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after purchasing an additional 3,865,485 shares during the last quarter. National Pension Service increased its position in shares of Amazon.com by 15.9% during the third quarter. National Pension Service now owns 16,920,526 shares of the e-commerce giant’s stock worth $3,152,802,000 after purchasing an additional 2,321,786 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its stake in shares of Amazon.com by 6,590.8% during the second quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock worth $432,394,000 after buying an additional 2,318,713 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research report on Monday, December 16th. Jefferies Financial Group increased their price target on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Piper Sandler upped their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Bank of America increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 stock was 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 directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $225.06 on Tuesday. The stock has a market cap of $2.37 trillion, a P/E ratio of 48.19, a P/E/G ratio of 1.54 and a beta of 1.16. The firm’s 50-day simple moving average is $205.83 and its 200 day simple moving average is $191.46. 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 quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current 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.