Wealth Alliance Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Wealth Alliance cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,055 shares of the e-commerce giant’s stock after selling 1,213 shares during the quarter. Amazon.com comprises about 1.7% of Wealth Alliance’s portfolio, making the stock its 11th largest holding. Wealth Alliance’s holdings in Amazon.com were worth $13,834,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc raised its holdings in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% in the third 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 in the last quarter. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at $45,000. Quattro Financial Advisors LLC increased its holdings in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares in the company, valued at approximately $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.3 %

Shares of NASDAQ:AMZN opened at $194.95 on Friday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market cap of $2.07 trillion, a PE ratio of 35.25, a P/E/G ratio of 1.50 and a beta of 1.19. The company’s 50-day moving average price is $219.36 and its 200 day moving average price is $207.85. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analysts Set New Price Targets

AMZN has been the subject of several research reports. Wolfe Research lifted their price target on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Roth Mkm raised their price objective on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their price objective on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $260.65.

About Amazon.com

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.