Fragasso Financial Advisors Inc Cuts Stock Holdings in Amazon.com, Inc. $AMZN

Fragasso Financial Advisors Inc lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,895 shares of the e-commerce giant’s stock after selling 3,532 shares during the period. Amazon.com makes up approximately 0.8% of Fragasso Financial Advisors Inc’s holdings, making the stock its 18th largest holding. Fragasso Financial Advisors Inc’s holdings in Amazon.com were worth $12,928,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Amazon.com by 2.1% during the second quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock valued at $186,420,422,000 after purchasing an additional 17,447,045 shares during the period. State Street Corp raised its holdings in Amazon.com by 1.4% during the 2nd quarter. State Street Corp now owns 374,097,285 shares of the e-commerce giant’s stock valued at $82,073,203,000 after buying an additional 5,163,208 shares during the last quarter. Geode Capital Management LLC boosted its position in Amazon.com by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock valued at $47,332,625,000 after buying an additional 3,721,658 shares during the period. Kingstone Capital Partners Texas LLC boosted its position in Amazon.com by 542,733.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock valued at $29,100,194,000 after buying an additional 132,616,953 shares during the period. Finally, Norges Bank bought a new stake in Amazon.com in the 2nd quarter worth $27,438,011,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AMZN. President Capital upped their price objective on shares of Amazon.com from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective (up previously from $292.00) on shares of Amazon.com in a report on Tuesday, December 2nd. Monness Crespi & Hardt lifted their price objective on Amazon.com from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Truist Financial set a $290.00 target price on Amazon.com in a report on Friday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Amazon.com in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $295.50.

Amazon.com Trading Up 2.5%

Shares of NASDAQ AMZN opened at $226.76 on Friday. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $258.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The firm has a 50-day moving average of $229.30 and a 200 day moving average of $225.24. The stock has a market cap of $2.42 trillion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The business had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same quarter in the prior year, the company earned $1.43 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 22,000 shares of Amazon.com stock in a transaction on Friday, October 31st. The stock was sold at an average price of $250.03, for a total transaction of $5,500,660.00. Following the completion of the transaction, the chief executive officer owned 493,507 shares in the company, valued at approximately $123,391,555.21. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the sale, the director directly owned 26,148 shares in the company, valued at $5,925,398.28. This trade represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,234 shares of company stock worth $19,076,767 over the last quarter. 9.70% of the stock is currently owned by company insiders.

Amazon.com Company 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.