Laffer Tengler Investments Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Laffer Tengler Investments lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,444 shares of the e-commerce giant’s stock after selling 1,411 shares during the quarter. Laffer Tengler Investments’ holdings in Amazon.com were worth $2,628,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Amazon.com by 1.8% in the third quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after purchasing an additional 12,456,995 shares during the period. State Street Corp grew its stake in shares of Amazon.com by 1.0% in the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after buying an additional 3,121,516 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares during the period. FMR LLC lifted its stake in Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 161,534,790 shares of the e-commerce giant’s stock valued at $13,541,345,000 after acquiring an additional 3,875,615 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMZN. Credit Suisse Group increased their price target on shares of Amazon.com from $176.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Needham & Company LLC raised their price target on shares of Amazon.com from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Evercore ISI upped their price objective on Amazon.com from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Wolfe Research lifted their target price on Amazon.com from $140.00 to $150.00 in a report on Monday, July 10th. Finally, Stifel Nicolaus upped their price target on Amazon.com from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.87.

Insider Buying and Selling

In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the transaction, the chief executive officer now owns 151,780 shares in the company, valued at $18,983,124.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $130.93, for a total transaction of $523,720.00. Following the sale, the chief executive officer now owns 564,301 shares in the company, valued at approximately $73,883,929.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the transaction, the chief executive officer now directly owns 151,780 shares of the company’s stock, valued at $18,983,124.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,362,329 shares of company stock valued at $48,508,072. 12.70% of the stock is owned by insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $138.12 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $143.63. The firm’s fifty day simple moving average is $132.90 and its 200-day simple moving average is $116.05. The stock has a market cap of $1.43 trillion, a PE ratio of 108.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. The company had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. Analysts expect that Amazon.com, Inc. will post 2.23 earnings per share for the current fiscal year.

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.