Howe & Rusling Inc. cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the 2nd quarter, Holdings Channel reports. The fund owned 5,308 shares of the e-commerce giant’s stock after selling 72 shares during the period. Amazon.com accounts for approximately 1.6% of Howe & Rusling Inc.’s portfolio, making the stock its 22nd largest position. Howe & Rusling Inc.’s holdings in Amazon.com were worth $9,022,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Summit Trail Advisors LLC raised its holdings in Amazon.com by 180,406.1% in the first quarter. Summit Trail Advisors LLC now owns 9,848,415 shares of the e-commerce giant’s stock valued at $9,848,000 after buying an additional 9,842,959 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Amazon.com by 198,956.6% in the second quarter. Cornerstone Wealth Management LLC now owns 3,340,169 shares of the e-commerce giant’s stock valued at $1,949,000 after buying an additional 3,338,491 shares during the period. Natixis raised its holdings in Amazon.com by 296.9% in the first quarter. Natixis now owns 198,729 shares of the e-commerce giant’s stock valued at $287,629,000 after buying an additional 148,654 shares during the period. Dimensional Fund Advisors LP raised its holdings in Amazon.com by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,172,604 shares of the e-commerce giant’s stock valued at $1,697,157,000 after buying an additional 111,563 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Amazon.com in the first quarter valued at approximately $158,680,000. 56.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on AMZN. Benchmark restated a “buy” rating and issued a $2,100.00 price target on shares of Amazon.com in a report on Friday, October 26th. Macquarie reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, October 26th. Credit Suisse Group reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, October 23rd. Aegis lifted their price objective on shares of Amazon.com from $2,063.00 to $2,225.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $2,075.00 price objective (up previously from $1,840.00) on shares of Amazon.com in a research note on Friday, July 27th. Four research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. Amazon.com has an average rating of “Buy” and a consensus price target of $2,091.53.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 25th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $2.46. The business had revenue of $56.58 billion during the quarter, compared to analyst estimates of $57.05 billion. Amazon.com had a net margin of 4.03% and a return on equity of 24.35%. Equities research analysts predict that Amazon.com, Inc. will post 17.81 earnings per share for the current year.
In other Amazon.com news, Director Tom A. Alberg sold 2,320 shares of Amazon.com stock in a transaction on Monday, August 6th. The shares were sold at an average price of $1,827.29, for a total value of $4,239,312.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Jassy sold 1,726 shares of Amazon.com stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $1,900.00, for a total transaction of $3,279,400.00. Following the completion of the transaction, the chief executive officer now directly owns 88,801 shares of the company’s stock, valued at approximately $168,721,900. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,308 shares of company stock valued at $38,986,448. Insiders own 16.30% of the company’s stock.
Amazon.com Company 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 vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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