OVERSEA CHINESE BANKING Corp Ltd Sells 118,247 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,780 shares of the e-commerce giant’s stock after selling 118,247 shares during the period. Amazon.com comprises about 2.8% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 7th biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Amazon.com were worth $99,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMZN. Rench Wealth Management Inc. raised its holdings in shares of Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after acquiring an additional 3,703 shares during the period. Blankinship & Foster LLC grew its position in Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at $4,270,000. Floyd Financial Group LLC acquired a new stake in shares of Amazon.com in the fourth quarter worth $4,494,000. Finally, Patton Albertson Miller Group LLC raised its position in Amazon.com by 2.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant’s stock valued at $4,122,000 after buying an additional 495 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,620 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $223.14, for a total value of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock worth $23,341,803 over the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $172.51 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business has a 50 day simple moving average of $198.44 and a 200 day simple moving average of $208.04. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a market capitalization of $1.83 trillion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays lifted their target price on Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on shares of Amazon.com from $270.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Maxim Group lifted their price objective on Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $265.00 target price (up from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Finally, HSBC lifted their price target on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.73.

About Amazon.com

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.