Woodmont Investment Counsel LLC Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Woodmont Investment Counsel LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,958 shares of the e-commerce giant’s stock after selling 1,689 shares during the period. Woodmont Investment Counsel LLC’s holdings in Amazon.com were worth $3,226,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC lifted its position in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC lifted its position in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 4,087,933 shares during the period. Finally, Norges Bank purchased a new stake in shares of Amazon.com in the 4th quarter worth approximately $27,266,582,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.1%

AMZN stock opened at $222.26 on Friday. The firm’s fifty day simple moving average is $209.20 and its 200-day simple moving average is $208.66. The company has a market capitalization of $2.36 trillion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm 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 firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMZN shares. Stifel Nicolaus lowered their price target on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Barclays lowered their price target on shares of Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. DA Davidson lowered their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial boosted their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Tigress Financial boosted their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.31.

Insider Activity

In related news, SVP David Zapolsky sold 13,570 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the sale, the senior vice president directly owned 47,030 shares of the company’s stock, valued at approximately $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the sale, the vice president directly owned 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. 9.70% of the stock is currently owned by corporate insiders.

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.