Advisor Resource Council Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Advisor Resource Council decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 74.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,882 shares of the e-commerce giant’s stock after selling 59,761 shares during the quarter. Amazon.com accounts for 1.5% of Advisor Resource Council’s portfolio, making the stock its 12th largest position. Advisor Resource Council’s holdings in Amazon.com were worth $3,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMZN. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Amazon.com by 3.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,839 shares of the e-commerce giant’s stock worth $163,202,000 after buying an additional 43,963 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of Amazon.com in the third quarter worth approximately $380,000. OLD National Bancorp IN lifted its holdings in Amazon.com by 0.9% during the third quarter. OLD National Bancorp IN now owns 389,363 shares of the e-commerce giant’s stock valued at $49,496,000 after purchasing an additional 3,304 shares in the last quarter. Diversified Trust Co lifted its holdings in Amazon.com by 4.4% during the third quarter. Diversified Trust Co now owns 214,139 shares of the e-commerce giant’s stock valued at $27,221,000 after purchasing an additional 8,984 shares in the last quarter. Finally, Granite Harbor Advisors Inc. lifted its holdings in Amazon.com by 0.4% during the third quarter. Granite Harbor Advisors Inc. now owns 21,936 shares of the e-commerce giant’s stock valued at $2,789,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Raymond James lifted their price target on shares of Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of Amazon.com in a report on Wednesday, May 1st. Loop Capital lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price target on shares of Amazon.com in a report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Amazon.com from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $217.38.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the sale, the insider now directly owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Insiders sold a total of 6,113,490 shares of company stock valued at $1,222,340,738 over the last three months. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Down 0.3 %

NASDAQ AMZN opened at $194.49 on Friday. The company’s 50-day moving average price is $187.63 and its 200-day moving average price is $176.17. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.02 trillion, a PE ratio of 54.48, a PEG ratio of 1.43 and a beta of 1.15. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 4.72 earnings per share for the current year.

About Amazon.com

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.