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

Fairhaven Wealth Management LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,498 shares of the e-commerce giant’s stock after selling 153 shares during the quarter. Amazon.com accounts for about 2.0% of Fairhaven Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Fairhaven Wealth Management LLC’s holdings in Amazon.com were worth $6,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Accordant Advisory Group Inc lifted its stake in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Icon Wealth Advisors LLC lifted its position in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the period. Bull Oak Capital LLC purchased a new stake in Amazon.com in the third quarter worth approximately $45,000. Quattro Financial Advisors LLC grew its position in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares during the period. Finally, Compass Planning Associates Inc purchased a new stake in Amazon.com during the 4th quarter valued at $51,000. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,298 shares of company stock worth $22,871,828. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMZN. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Tigress Financial boosted their price target on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Telsey Advisory Group reiterated an “outperform” rating and issued a $275.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Phillip Securities lowered shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $265.00 target price (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Trading Down 2.2 %

Shares of AMZN stock opened at $201.13 on Thursday. The company has a market cap of $2.13 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $217.91 and its two-hundred day simple moving average is $208.80. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.