Boyce & Associates Wealth Consulting Inc. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Boyce & Associates Wealth Consulting Inc. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,112 shares of the e-commerce giant’s stock after selling 125 shares during the quarter. Amazon.com comprises approximately 0.8% of Boyce & Associates Wealth Consulting Inc.’s investment portfolio, making the stock its 28th biggest holding. Boyce & Associates Wealth Consulting Inc.’s holdings in Amazon.com were worth $782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the fourth quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter worth $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com during the fourth quarter worth $35,000. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com during the first quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the first quarter worth $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMZN shares. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Monness Crespi & Hardt lifted their price objective on shares of Amazon.com from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. UBS Group restated a “buy” rating and set a $271.00 target price (up from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $262.45.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 25,101,037 shares of company stock valued at $5,674,726,368. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $221.30 on Tuesday. The firm’s 50 day moving average price is $219.94 and its 200-day moving average price is $208.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The firm has a market cap of $2.36 trillion, a P/E ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same period in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.