Cedar Wealth Management LLC Sells 1,965 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cedar Wealth Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 11.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,117 shares of the e-commerce giant's stock after selling 1,965 shares during the period. Amazon.com comprises approximately 1.2% of Cedar Wealth Management LLC's holdings, making the stock its 13th biggest position. Cedar Wealth Management LLC's holdings in Amazon.com were worth $3,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rench Wealth Management Inc. boosted its holdings in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock worth $9,392,000 after buying an additional 3,703 shares during the period. Blankinship & Foster LLC lifted its position in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock valued at $1,291,000 after acquiring an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC bought a new position in shares of Amazon.com in the fourth quarter worth about $4,270,000. Floyd Financial Group LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth about $4,494,000. Finally, Patton Albertson Miller Group LLC raised its stake in Amazon.com by 2.7% during the 4th quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant's stock valued at $4,122,000 after purchasing an additional 495 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMZN shares. Wolfe Research boosted their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Telsey Advisory Group decreased their price target on shares of Amazon.com from $275.00 to $235.00 and set an "outperform" rating on the stock in a research note on Wednesday. Loop Capital raised their price objective on Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Truist Financial decreased their target price on Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Wedbush restated an "outperform" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.56.

Amazon.com Stock Performance

Amazon.com stock opened at $180.84 on Thursday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm's 50 day simple moving average is $195.11 and its 200-day simple moving average is $207.66. 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 company has a market cap of $1.92 trillion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 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%. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $10,933,860. This trade represents a 22.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock worth $23,341,803 in the last three months. 10.80% of the stock is owned by 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.

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