Old North State Wealth Management LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Old North State Wealth Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,457 shares of the e-commerce giant’s stock after selling 370 shares during the period. Amazon.com makes up 3.9% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Old North State Wealth Management LLC’s holdings in Amazon.com were worth $6,937,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Scott & Selber Inc. lifted its stake in Amazon.com by 0.7% during the 1st quarter. Scott & Selber Inc. now owns 60,682 shares of the e-commerce giant’s stock valued at $11,545,000 after acquiring an additional 436 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in Amazon.com by 7.4% during the 1st quarter. Transcend Capital Advisors LLC now owns 102,256 shares of the e-commerce giant’s stock valued at $19,455,000 after acquiring an additional 7,068 shares in the last quarter. Wolff Financial Management LLC lifted its stake in Amazon.com by 48.7% during the 1st quarter. Wolff Financial Management LLC now owns 2,171 shares of the e-commerce giant’s stock valued at $413,000 after acquiring an additional 711 shares in the last quarter. Victrix Investment Advisors lifted its stake in Amazon.com by 1.1% during the 1st quarter. Victrix Investment Advisors now owns 37,046 shares of the e-commerce giant’s stock valued at $6,973,000 after acquiring an additional 387 shares in the last quarter. Finally, Park Place Capital Corp lifted its stake in Amazon.com by 5.0% during the 1st quarter. Park Place Capital Corp now owns 27,948 shares of the e-commerce giant’s stock valued at $5,317,000 after acquiring an additional 1,341 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Up 1.0%

Shares of NASDAQ AMZN opened at $226.13 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.69 and a beta of 1.33. The business has a 50-day moving average of $213.50 and a 200-day moving average of $208.59.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 733,195 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the sale, the insider owned 894,546,706 shares in the company, valued at approximately $203,079,993,196.12. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer owned 514,550 shares of the company’s stock, valued at $113,231,873. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,335,232 shares of company stock valued at $3,210,622,570 in the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Raymond James Financial reiterated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. BNP Paribas Exane upgraded Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 target price on the stock in a research note on Friday, June 27th. Roth Capital set a $250.00 target price on Amazon.com and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, JMP Securities lifted their target price on Amazon.com from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.35.

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.