Chesapeake Wealth Management Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Chesapeake Wealth Management decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% during the second quarter, HoldingsChannel reports. The fund owned 22,562 shares of the e-commerce giant’s stock after selling 584 shares during the quarter. Amazon.com comprises about 1.6% of Chesapeake Wealth Management’s investment portfolio, making the stock its 15th biggest holding. Chesapeake Wealth Management’s holdings in Amazon.com were worth $4,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Garrison Point Advisors LLC raised its position in Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. increased its position in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the period. Ridgecrest Wealth Partners LLC lifted its position in shares of Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares during the period. Stordahl Capital Management Inc. lifted its position in shares of Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after purchasing an additional 56 shares during the period. Finally, Lutz Financial Services LLC boosted its stake in shares of Amazon.com by 1.9% during the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 0.8 %

Amazon.com stock opened at $188.99 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm’s 50 day moving average price is $181.98 and its 200-day moving average price is $183.43. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock has a market cap of $1.97 trillion, a P/E ratio of 52.94, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. Evercore ISI restated an “outperform” rating and set a $240.00 price target on shares of Amazon.com in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Maxim Group boosted their target price on Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock valued at $9,877,423 in the last ninety days. Insiders own 10.80% of the company’s stock.

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.