Carmel Capital Partners LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 15.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,120 shares of the e-commerce giant’s stock after selling 960 shares during the period. Carmel Capital Partners LLC’s holdings in Amazon.com were worth $667,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Grove Bank & Trust boosted its stake in shares of Amazon.com by 2.4% during the second quarter. Grove Bank & Trust now owns 70,424 shares of the e-commerce giant’s stock valued at $9,180,000 after purchasing an additional 1,634 shares in the last quarter. TimeScale Financial Inc. lifted its position in Amazon.com by 4.1% during the second quarter. TimeScale Financial Inc. now owns 9,436 shares of the e-commerce giant’s stock valued at $1,230,000 after acquiring an additional 371 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Amazon.com by 7.1% during the second quarter. Pinnacle Associates Ltd. now owns 500,010 shares of the e-commerce giant’s stock valued at $65,181,000 after acquiring an additional 33,008 shares during the last quarter. Goelzer Investment Management Inc. lifted its position in Amazon.com by 0.7% during the second quarter. Goelzer Investment Management Inc. now owns 40,079 shares of the e-commerce giant’s stock valued at $5,225,000 after acquiring an additional 271 shares during the last quarter. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in Amazon.com during the second quarter valued at approximately $365,000. 57.96% of the stock is currently owned by institutional investors.
Amazon.com Stock Up 6.8 %
Shares of NASDAQ AMZN opened at $127.74 on Friday. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $145.86. The stock has a market cap of $1.32 trillion, a PE ratio of 100.58, a P/E/G ratio of 1.84 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $132.39 and a 200 day moving average of $125.38.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.29. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. The company had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. As a group, sell-side analysts predict that Amazon.com, Inc. will post 2.24 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently commented on AMZN shares. DA Davidson increased their target price on shares of Amazon.com from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday. Rosenblatt Securities increased their target price on shares of Amazon.com from $184.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. CICC Research started coverage on shares of Amazon.com in a research report on Sunday, July 9th. They set an “outperform” rating for the company. Roth Mkm increased their target price on shares of Amazon.com from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.70.
Read Our Latest Analysis on Amazon.com
Insider Activity at Amazon.com
In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total value of $69,240.00. Following the transaction, the chief executive officer now directly owns 106,520 shares in the company, valued at approximately $14,750,889.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $133.55, for a total value of $534,200.00. Following the transaction, the chief executive officer now directly owns 560,301 shares in the company, valued at approximately $74,828,198.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total transaction of $69,240.00. Following the completion of the transaction, the chief executive officer now owns 106,520 shares in the company, valued at $14,750,889.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,408,645 shares of company stock valued at $55,208,288. Corporate insiders own 12.30% of the company’s stock.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company’s products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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