WESPAC Advisors SoCal LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

WESPAC Advisors SoCal LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 65.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,940 shares of the e-commerce giant’s stock after selling 59,704 shares during the quarter. Amazon.com comprises approximately 1.3% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 29th biggest position. WESPAC Advisors SoCal LLC’s holdings in Amazon.com were worth $3,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMZN. Fiduciary Planning LLC lifted its stake in shares of Amazon.com by 1.5% during the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after purchasing an additional 5 shares during the last quarter. HBC Financial Services PLLC raised its stake in Amazon.com by 0.8% in the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock valued at $1,717,000 after buying an additional 5 shares during the last quarter. Meridian Investment Counsel Inc. raised its stake in Amazon.com by 3.4% in the first quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock valued at $492,000 after buying an additional 5 shares during the last quarter. Alterna Wealth Management Inc. raised its stake in Amazon.com by 1.8% in the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after buying an additional 5 shares during the last quarter. Finally, Archetype Wealth Partners raised its stake in Amazon.com by 3.7% in the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of research analyst reports. Wolfe Research increased their price target on Amazon.com from $115.00 to $130.00 in a research note on Friday, February 3rd. Cowen increased their price target on Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, December 1st. New Street Research initiated coverage on Amazon.com in a research note on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price target for the company. Credit Suisse Group increased their price objective on Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a report on Monday, January 30th. Finally, Tigress Financial reissued a “buy” rating and issued a $192.00 price objective on shares of Amazon.com in a report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.87.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the transaction, the vice president now owns 119,780 shares in the company, valued at $11,368,319.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, CFO Brian T. Olsavsky sold 16,760 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $95.25, for a total value of $1,596,390.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $4,667,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $11,368,319.80. The disclosure for this sale can be found here. Insiders have sold 67,394 shares of company stock worth $6,619,426 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $92.13 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. The company’s 50-day simple moving average is $94.73 and its 200-day simple moving average is $104.97. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $170.83. The stock has a market capitalization of $944.08 billion, a price-to-earnings ratio of -343.76, a PEG ratio of 3.88 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The business had revenue of $149.20 billion for the quarter, compared to the consensus estimate of $145.72 billion. During the same period last year, the firm posted $1.39 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

About Amazon.com

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.