Virtue Capital Management LLC Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Virtue Capital Management LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,806 shares of the e-commerce giant’s stock after selling 1,876 shares during the period. Amazon.com accounts for 0.8% of Virtue Capital Management LLC’s portfolio, making the stock its 27th largest holding. Virtue Capital Management LLC’s holdings in Amazon.com were worth $3,877,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Icon Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the last quarter. PayPay Securities Corp lifted its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. bought a new stake in shares of Amazon.com in the 3rd quarter worth about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMZN shares. Mizuho raised their target price 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. TD Cowen raised their target price on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Amazon.com Stock Up 2.6 %

NASDAQ:AMZN opened at $223.35 on Thursday. The company has a market cap of $2.35 trillion, a PE ratio of 47.83, a P/E/G ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $217.02 and its two-hundred day moving average is $195.74.

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. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. Analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

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.