Parsons Capital Management Inc. RI Has $54.25 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Parsons Capital Management Inc. RI reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,108 shares of the e-commerce giant’s stock after selling 3,343 shares during the quarter. Amazon.com accounts for approximately 3.0% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 6th largest holding. Parsons Capital Management Inc. RI’s holdings in Amazon.com were worth $54,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Home Federal Bank of Tennessee increased its holdings in shares of Amazon.com by 38.0% during the first quarter. Home Federal Bank of Tennessee now owns 1,816 shares of the e-commerce giant’s stock valued at $346,000 after acquiring an additional 500 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in Amazon.com by 97.2% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 49,378 shares of the e-commerce giant’s stock worth $9,395,000 after purchasing an additional 24,338 shares in the last quarter. Manitou Investment Management Ltd. lifted its position in shares of Amazon.com by 10.3% during the 1st quarter. Manitou Investment Management Ltd. now owns 212,310 shares of the e-commerce giant’s stock valued at $40,394,000 after buying an additional 19,859 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Amazon.com by 15.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 11,748 shares of the e-commerce giant’s stock valued at $2,235,000 after purchasing an additional 1,566 shares during the last quarter. Finally, Sonora Investment Management Group LLC raised its stake in Amazon.com by 2.3% in the 1st quarter. Sonora Investment Management Group LLC now owns 116,363 shares of the e-commerce giant’s stock valued at $22,139,000 after purchasing an additional 2,561 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now directly owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now owns 506,974 shares in the company, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,037 shares of company stock worth $20,531,075. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Up 2.1%

Amazon.com stock opened at $212.77 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The firm has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock’s fifty day moving average is $199.60 and its two-hundred day moving average is $209.07.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. JPMorgan Chase & Co. raised their target price on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Mizuho dropped their target price on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. DA Davidson decreased their price objective on Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reduced their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $245.64.

Amazon.com Company 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.