Fragasso Financial Advisors Inc Sells 2,702 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fragasso Financial Advisors Inc trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,030 shares of the e-commerce giant’s stock after selling 2,702 shares during the quarter. Amazon.com accounts for about 1.2% of Fragasso Financial Advisors Inc’s holdings, making the stock its 15th largest position. Fragasso Financial Advisors Inc’s holdings in Amazon.com were worth $15,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the last quarter. State Street Corp increased its position in shares of Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $235.01 on Thursday. The stock’s 50-day simple moving average is $218.73 and its 200-day simple moving average is $196.68. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $235.44. The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.32, a PEG ratio of 1.26 and a beta of 1.14. 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 issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts expect that Amazon.com, Inc. will post 5.39 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler increased their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Oppenheimer increased their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group raised their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $247.72.

Amazon.com 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.