Amazon.com, Inc. (NASDAQ:AMZN) is Meritage Portfolio Management’s 5th Largest Position

Meritage Portfolio Management reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 170,929 shares of the e-commerce giant’s stock after selling 686 shares during the period. Amazon.com comprises approximately 2.0% of Meritage Portfolio Management’s investment portfolio, making the stock its 5th largest position. Meritage Portfolio Management’s holdings in Amazon.com were worth $31,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Foundations Investment Advisors LLC boosted its position in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank lifted its stake in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after buying an additional 5,828 shares during the period. BayBridge Capital Group LLC grew its stake in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after buying an additional 4,905 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $224.92 on Friday. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.54 and a beta of 1.16. The company has a 50-day simple moving average of $205.83 and a 200-day simple moving average of $191.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last three months. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AMZN. Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush raised their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Loop Capital lifted their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Sanford C. Bernstein increased their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, UBS Group boosted their price target on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.00.

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.