Old North State Wealth Management LLC Has $8.08 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Old North State Wealth Management LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,827 shares of the e-commerce giant’s stock after selling 681 shares during the quarter. Amazon.com makes up about 4.5% of Old North State Wealth Management LLC’s portfolio, making the stock its 2nd biggest holding. Old North State Wealth Management LLC’s holdings in Amazon.com were worth $8,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accordant Advisory Group Inc raised its holdings in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC raised its holdings in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares in the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the 3rd quarter worth $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com during the 3rd quarter worth $56,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. Mizuho upped their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upped their target price on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein upped their target price on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Evercore ISI upped their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $212.32 on Friday. The firm has a 50 day simple moving average of $226.44 and a 200-day simple moving average of $205.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a market cap of $2.25 trillion, a PE ratio of 38.39, a P/E/G ratio of 1.50 and a beta of 1.15. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This represents a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,149 shares of company stock worth $24,606,905 in the last ninety days. 10.80% of the stock is owned by insiders.

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.