Wealth Management Partners LLC Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Wealth Management Partners LLC trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the first quarter, HoldingsChannel.com reports. The fund owned 28,716 shares of the e-commerce giant’s stock after selling 366 shares during the quarter. Amazon.com accounts for about 2.6% of Wealth Management Partners LLC’s holdings, making the stock its 10th largest position. Wealth Management Partners LLC’s holdings in Amazon.com were worth $5,180,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Amazon.com by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after purchasing an additional 13,134,632 shares in the last quarter. FMR LLC boosted its stake in Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares in the last quarter. Norges Bank acquired a new position in Amazon.com in the fourth quarter worth $17,700,551,000. Northern Trust Corp boosted its stake in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after purchasing an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Amazon.com by 2.5% in the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock worth $8,565,017,000 after purchasing an additional 1,389,503 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research reports. Tigress Financial upped their price target on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Piper Sandler upped their price target on Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wedbush reaffirmed an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Citigroup upped their price target on Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Argus upped their price target on Amazon.com from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $215.74.

Amazon.com Trading Up 2.2 %

Shares of AMZN opened at $197.85 on Friday. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $199.84. The business’s fifty day moving average is $183.13 and its 200-day moving average is $172.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 55.42, a PEG ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the transaction, the chief executive officer now directly owns 2,025,358 shares in the company, valued at $367,480,955.52. The disclosure for this sale can be found here. Insiders have sold a total of 65,338 shares of company stock valued at $11,894,344 in the last 90 days. 10.80% of the stock is owned by corporate 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.