WestEnd Advisors LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

WestEnd Advisors LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,568 shares of the e-commerce giant’s stock after selling 60,332 shares during the quarter. Amazon.com comprises 1.1% of WestEnd Advisors LLC’s portfolio, making the stock its 23rd largest position. WestEnd Advisors LLC’s holdings in Amazon.com were worth $41,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Collective Family Office LLC increased its holdings in shares of Amazon.com by 9.7% during the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after acquiring an additional 819 shares in the last quarter. Phillips Wealth Planners LLC raised its holdings in Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Amazon.com in the fourth quarter worth approximately $5,926,000. Clearstead Trust LLC grew its holdings in shares of Amazon.com by 25.8% during the fourth quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock valued at $9,958,000 after buying an additional 13,454 shares during the last quarter. Finally, Summa Corp. bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $1,506,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.2 %

NASDAQ AMZN opened at $193.88 on Tuesday. The company has a market capitalization of $2.02 trillion, a P/E ratio of 54.31, a P/E/G ratio of 1.39 and a beta of 1.14. The stock has a 50 day moving average price of $178.57 and a 200-day moving average price of $182.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20.

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

Wall Street Analyst Weigh In

Several brokerages have commented on AMZN. Wedbush reiterated an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Thursday, September 19th. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a report on Friday, August 2nd. Piper Sandler decreased their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $222.84.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on 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 completion of 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 SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last ninety days. Insiders own 10.80% of the company’s stock.

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.