Chesapeake Wealth Management Sells 194 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Chesapeake Wealth Management reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,368 shares of the e-commerce giant’s stock after selling 194 shares during the period. Amazon.com comprises 1.4% of Chesapeake Wealth Management’s investment portfolio, making the stock its 22nd biggest position. Chesapeake Wealth Management’s holdings in Amazon.com were worth $4,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Legal & General Group Plc lifted its stake in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Amazon.com by 3.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after purchasing an additional 1,329,150 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Amazon.com by 1.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after acquiring an additional 464,938 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Down 1.1 %

AMZN stock opened at $221.30 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00. The stock has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 47.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm’s fifty day simple moving average is $209.73 and its two-hundred day simple moving average is $192.89.

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

Insiders Place Their Bets

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMZN shares. Tigress Financial raised their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush lifted their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark lifted their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com currently 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.