Destination Wealth Management Decreases Position in Amazon.com, Inc. (AMZN)

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.



In related news, CEO Jeffrey A. Wilke sold 2,000 shares of Amazon.com stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $2,004.25, for a total value of $4,008,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $20,042,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey M. Blackburn sold 4,108 shares of Amazon.com stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $1,952.10, for a total value of $8,019,226.80. Following the completion of the transaction, the insider now owns 42,874 shares of the company’s stock, valued at $83,694,335.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,308 shares of company stock valued at $47,905,498. 16.30% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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