TFC Financial Management Inc. Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

TFC Financial Management Inc. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 11,992 shares of the e-commerce giant’s stock after selling 58 shares during the period. Amazon.com accounts for about 0.4% of TFC Financial Management Inc.’s holdings, making the stock its 23rd largest holding. TFC Financial Management Inc.’s holdings in Amazon.com were worth $2,317,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Norges Bank acquired a new position in Amazon.com during the fourth quarter valued at approximately $17,700,551,000. Capital Research Global Investors grew its stake in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the period. Jennison Associates LLC increased its position in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after acquiring an additional 295,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Amazon.com by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock valued at $7,888,870,000 after acquiring an additional 1,525,922 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of AMZN opened at $179.55 on Wednesday. The stock has a market cap of $1.87 trillion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock’s 50-day moving average price is $180.25 and its two-hundred day moving average price is $181.42. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, equities analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMZN. UBS Group boosted their price target on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Cantor Fitzgerald initiated coverage on shares of Amazon.com in a research note on Thursday, September 5th. They set an “overweight” rating and a $230.00 price target on the stock. Morgan Stanley dropped their target price on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group reduced their price target on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $222.49.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s 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 approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock worth $1,220,621,322 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com 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.