Farmers Trust Co. Sells 890 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Farmers Trust Co. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,585 shares of the e-commerce giant’s stock after selling 890 shares during the quarter. Amazon.com comprises about 1.1% of Farmers Trust Co.’s portfolio, making the stock its 29th largest holding. Farmers Trust Co.’s holdings in Amazon.com were worth $6,009,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. FMR LLC raised its stake in shares of Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC raised its stake in shares of Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after buying an additional 4,087,933 shares during the period. Finally, Norges Bank purchased a new position in Amazon.com in the 4th quarter worth about $27,266,582,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMZN. Oppenheimer dropped their target price on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Benchmark reiterated a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, Stifel Nicolaus cut their target price on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $244.89.

Amazon.com Stock Up 1.6%

Shares of AMZN opened at $216.98 on Tuesday. The stock has a market capitalization of $2.30 trillion, a PE ratio of 39.24, a P/E/G ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company’s 50-day simple moving average is $192.26 and its 200-day simple moving average is $208.96.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the transaction, the chief executive officer now directly owns 2,148,694 shares in the company, valued at $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock valued at $20,531,075 over the last 90 days. 9.70% of the stock is owned by corporate insiders.

Amazon.com Profile

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.