Kelly Financial Services LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kelly Financial Services LLC lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,306 shares of the e-commerce giant’s stock after selling 228 shares during the quarter. Kelly Financial Services LLC’s holdings in Amazon.com were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Rench Wealth Management Inc. raised its holdings in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after acquiring an additional 3,703 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC grew its holdings in Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after buying an additional 4,740 shares in the last quarter. Umpqua Bank boosted its position in shares of Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares during the last quarter. Finally, One Wealth Capital Management LLC purchased a new position in shares of Amazon.com in the fourth quarter valued at $4,270,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMZN shares. Monness Crespi & Hardt boosted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley boosted their price objective on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company upped their target price on shares of Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Royal Bank of Canada raised their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Scotiabank upped their price target on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Two 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.44.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now directly owns 524,567 shares in the company, valued at $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,000,077.35. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock valued at $1,252,456,773 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 1.3 %

AMZN stock opened at $237.68 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $241.77. The firm’s fifty day moving average is $223.83 and its 200 day moving average is $198.91. The firm has a market cap of $2.50 trillion, a PE ratio of 50.90, a P/E/G ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’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. On average, research analysts forecast that Amazon.com, Inc. will post 5.3 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.