Destination Wealth Management cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,212 shares of the e-commerce giant’s stock after selling 292 shares during the period. Destination Wealth Management’s holdings in Amazon.com were worth $2,060,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. HC Financial Advisors Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $315,000. St. Johns Investment Management Company LLC increased its holdings in shares of Amazon.com by 4.2% in the first quarter. St. Johns Investment Management Company LLC now owns 1,070 shares of the e-commerce giant’s stock valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of Amazon.com by 12.1% in the first quarter. Zeke Capital Advisors LLC now owns 8,607 shares of the e-commerce giant’s stock valued at $12,457,000 after purchasing an additional 926 shares during the last quarter. Mackay Shields LLC acquired a new stake in Amazon.com during the first quarter worth $248,912,000. Finally, Reynders McVeigh Capital Management LLC increased its stake in Amazon.com by 46.2% during the first quarter. Reynders McVeigh Capital Management LLC now owns 4,727 shares of the e-commerce giant’s stock worth $327,000 after acquiring an additional 1,494 shares during the last quarter. Institutional investors and hedge funds own 56.73% of the company’s stock.
AMZN has been the subject of several recent analyst reports. Wells Fargo & Co reissued a “buy” rating and set a $2,300.00 target price on shares of Amazon.com in a research note on Monday, October 1st. Oppenheimer reissued a “buy” rating and set a $2,020.00 target price (down previously from $2,130.00) on shares of Amazon.com in a research note on Monday. Barclays reissued a “buy” rating on shares of Amazon.com in a research note on Monday, September 17th. Goldman Sachs Group reissued a “buy” rating on shares of Amazon.com in a research note on Tuesday, October 2nd. Finally, Citigroup raised their target price on Amazon.com from $2,100.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Four investment analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $2,087.57.
AMZN opened at $1,538.88 on Tuesday. Amazon.com, Inc. has a 52 week low of $1,086.87 and a 52 week high of $2,050.50. The firm has a market cap of $801.27 billion, a PE ratio of 338.22, a PEG ratio of 3.42 and a beta of 1.58. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.63.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 25th. The e-commerce giant reported $5.75 EPS for the quarter, topping the consensus estimate of $3.29 by $2.46. The business had revenue of $56.58 billion during the quarter, compared to analyst estimates of $57.05 billion. Amazon.com had a return on equity of 24.35% and a net margin of 4.03%. Equities research analysts predict that Amazon.com, Inc. will post 17.81 earnings per share for the current fiscal year.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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