Somerset Trust Co Has $372,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Somerset Trust Co reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,953 shares of the e-commerce giant’s stock after selling 190 shares during the quarter. Somerset Trust Co’s holdings in Amazon.com were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC acquired a new position in shares of Amazon.com during the fourth quarter worth approximately $25,000. Accordant Advisory Group Inc lifted its holdings in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter worth approximately $27,000. LSV Asset Management acquired a new position in shares of Amazon.com during the fourth quarter worth approximately $35,000. Finally, Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 80 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $204.98, for a total value of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares in the company, valued at $105,984,909. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the transaction, the director now owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last 90 days. Insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $217.61 on Wednesday. The stock’s fifty day moving average is $193.04 and its 200-day moving average is $209.02. The stock has a market capitalization of $2.31 trillion, a PE ratio of 39.35, a PEG ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week 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.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating 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 return on equity of 24.25% and a net margin of 9.29%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada cut their price target on Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Rosenblatt Securities upped their target price on Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Truist Financial cut their target price on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $212.00 target price (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $244.89.

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.