Tower View Wealth Management LLC Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Tower View Wealth Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 28,557 shares of the e-commerce giant’s stock after selling 213 shares during the period. Amazon.com accounts for about 3.2% of Tower View Wealth Management LLC’s holdings, making the stock its 11th biggest holding. Tower View Wealth Management LLC’s holdings in Amazon.com were worth $5,433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. Tallon Kerry Patrick purchased a new stake in Amazon.com during the 4th quarter valued at approximately $800,000. Capital & Planning LLC raised its stake in Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock valued at $856,000 after acquiring an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC raised its stake in Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after acquiring an additional 860 shares during the last quarter. Brighton Jones LLC raised its stake in Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Amazon.com during the 4th quarter valued at approximately $301,650,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

AMZN stock opened at $222.26 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock’s fifty day simple moving average is $209.20 and its 200-day simple moving average is $208.66. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 return on equity of 24.14% and a net margin of 10.14%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMZN shares. Bank of America increased their target price on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. Benchmark reissued a “buy” rating and set a $260.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Morgan Stanley increased their target price on Amazon.com from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus cut their target price on Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Oppenheimer increased their target price on Amazon.com from $215.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $248.31.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 17,750 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total value of $3,577,867.50. Following the transaction, the chief financial officer directly owned 49,000 shares of the company’s stock, valued at approximately $9,876,930. This trade represents a 26.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,886,613 shares of company stock worth $1,531,840,610. Corporate insiders own 9.70% of the company’s stock.

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.