Evergreen Wealth Management LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Evergreen Wealth Management LLC has reduced its stake in Amazon.com by 14.3%, now holding 30,724 shares valued at approximately $5.8 million.
• Amazon's latest earnings report showed a net revenue increase of 13.3% year-over-year, with an earnings per share (EPS) of $1.68, exceeding expectations.
• Analysts remain optimistic, with several research firms setting new price targets for Amazon's stock, ranging from $260 to $300, and an overall consensus rating of "Buy".

Evergreen Wealth Management LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,724 shares of the e-commerce giant's stock after selling 5,144 shares during the period. Amazon.com accounts for 3.5% of Evergreen Wealth Management LLC's portfolio, making the stock its 8th largest holding. Evergreen Wealth Management LLC's holdings in Amazon.com were worth $5,846,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management bought a new stake in Amazon.com in the 4th quarter valued at about $35,000. Perritt Capital Management Inc boosted its holdings in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. Cooksen Wealth LLC bought a new stake in Amazon.com in the 1st quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Amazon.com in the 1st quarter valued at about $40,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMZN. Benchmark reissued a "buy" rating and issued a $260.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Truist Financial boosted their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus boosted their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Cantor Fitzgerald boosted their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $262.87.

Amazon.com Stock Up 0.0%

NASDAQ AMZN traded up $0.05 on Friday, hitting $231.03. 39,600,434 shares of the company were exchanged, compared to its average volume of 47,994,872. The company has a market cap of $2.46 trillion, a PE ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The stock has a fifty day moving average of $221.41 and a 200-day moving average of $208.64. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same period last year, the firm earned $1.26 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com 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.