Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Reduced by Tower Bridge Advisors

Tower Bridge Advisors cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,883 shares of the e-commerce giant’s stock after selling 1,412 shares during the period. Tower Bridge Advisors’ holdings in Amazon.com were worth $7,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Norges Bank acquired a new position in shares of Amazon.com during the 4th quarter worth $17,700,551,000. Capital Research Global Investors increased its stake in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Amazon.com by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after purchasing an additional 1,525,922 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMZN. Maxim Group raised their target price on shares of Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Itau BBA Securities lowered shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. Roth Mkm raised their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Bank of America reduced their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amazon.com has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Stock Performance

Shares of AMZN stock opened at $186.49 on Friday. The company’s fifty day simple moving average is $179.51 and its 200-day simple moving average is $181.62. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.96 trillion, a PE ratio of 52.24, a P/E/G ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities research analysts expect that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares in the company, valued at $11,602,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

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.