Bragg Financial Advisors Inc Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Bragg Financial Advisors Inc lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 138,797 shares of the e-commerce giant’s stock after selling 2,664 shares during the quarter. Amazon.com comprises about 1.2% of Bragg Financial Advisors Inc’s portfolio, making the stock its 13th largest holding. Bragg Financial Advisors Inc’s holdings in Amazon.com were worth $30,451,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the period. State Street Corp boosted its holdings in shares of Amazon.com by 3.3% in 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 acquiring an additional 11,370,309 shares during the last quarter. FMR LLC increased its stake in shares of Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC increased its stake in shares of Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares during the period. Finally, Norges Bank purchased a new position in shares of Amazon.com during the fourth quarter worth $27,266,582,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. Wells Fargo & Company lowered their price target on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Citizens Jmp lowered their target price on Amazon.com from $285.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lifted their price target on Amazon.com from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Citigroup restated an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Truist Financial cut their target price on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.09.

Insider Activity

In related news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction 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. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,298 shares of company stock valued at $23,818,478. 9.70% of the stock is currently owned by company insiders.

Amazon.com Stock Up 0.5 %

Shares of AMZN opened at $193.06 on Friday. The stock has a fifty day simple moving average of $188.50 and a two-hundred day simple moving average of $207.79. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.05 trillion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.31 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.