Inspirion Wealth Advisors LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Inspirion Wealth Advisors LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396 shares of the e-commerce giant’s stock after selling 10 shares during the period. Amazon.com comprises about 0.4% of Inspirion Wealth Advisors LLC’s portfolio, making the stock its 25th biggest position. Inspirion Wealth Advisors LLC’s holdings in Amazon.com were worth $1,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMZN. Gantzert Investment Co. LLC ADV acquired a new stake in shares of Amazon.com in the second quarter valued at approximately $28,000. Danda Trouve Investment Management Inc. acquired a new position in Amazon.com during the fourth quarter worth about $28,000. Deane Retirement Strategies Inc. lifted its holdings in shares of Amazon.com by 142.9% in the first quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock valued at $33,000 after purchasing an additional 10 shares in the last quarter. Your Advocates Ltd. LLP purchased a new stake in shares of Amazon.com in the first quarter valued at about $37,000. Finally, Spence Asset Management lifted its stake in shares of Amazon.com by 57.1% during the second quarter. Spence Asset Management now owns 22 shares of the e-commerce giant’s stock valued at $61,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

A number of equities analysts have weighed in on the stock. DZ Bank reaffirmed a “buy” rating on shares of Amazon.com in a research note on Wednesday. Morgan Stanley upped their price target on Amazon.com from $2,600.00 to $2,800.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Telsey Advisory Group upped their target price on Amazon.com from $2,350.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. BidaskClub upgraded Amazon.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Finally, Wolfe Research lowered Amazon.com to a “sell” rating and set a $1,987.00 price objective for the company. in a research note on Monday, April 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, forty-six have given a buy rating and one has assigned a strong buy rating to the company. Amazon.com currently has a consensus rating of “Buy” and an average price target of $2,693.66.

In other Amazon.com news, Director Indra K. Nooyi acquired 27 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was bought at an average cost of $2,806.80 per share, for a total transaction of $75,783.60. Following the completion of the transaction, the director now owns 707 shares of the company’s stock, valued at approximately $1,984,407.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the completion of the transaction, the director now owns 4,645 shares of the company’s stock, valued at $10,820,248.80. The disclosure for this sale can be found here. Insiders sold 9,497 shares of company stock valued at $21,605,827 over the last 90 days. Company insiders own 16.10% of the company’s stock.

Shares of AMZN stock traded up $48.86 during trading hours on Thursday, reaching $3,129.97. The company had a trading volume of 1,202,356 shares, compared to its average volume of 4,469,212. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08. The stock has a fifty day moving average of $2,609.78 and a 200-day moving average of $2,174.55. The company has a market capitalization of $1,536.80 billion, a price-to-earnings ratio of 148.34, a PEG ratio of 6.13 and a beta of 1.32. Amazon.com, Inc. has a 12-month low of $1,626.03 and a 12-month high of $3,069.55.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.36 by ($1.35). The company had revenue of $75.45 billion during the quarter, compared to analysts’ expectations of $74.15 billion. Amazon.com had a net margin of 3.56% and a return on equity of 17.83%. Amazon.com’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned $7.09 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 19.99 EPS for the current year.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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