Pettee Investors Inc. Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pettee Investors Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,515 shares of the e-commerce giant’s stock after selling 2,800 shares during the period. Amazon.com makes up approximately 2.0% of Pettee Investors Inc.’s investment portfolio, making the stock its 11th largest position. Pettee Investors Inc.’s holdings in Amazon.com were worth $3,332,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Amazon.com by 10.9% in 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 buying an additional 397,007 shares during the period. Revolve Wealth Partners LLC lifted its position in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after acquiring an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after acquiring an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE increased its stake in Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock valued at $6,357,000 after purchasing an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com in the fourth quarter valued at $2,153,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 2.9%

Amazon.com stock opened at $230.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The firm’s 50-day moving average is $221.06 and its 200-day moving average is $208.69. The company has a market cap of $2.46 trillion, a P/E ratio of 35.21, a PEG ratio of 1.51 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research analyst reports. Citizens Jmp began coverage on shares of Amazon.com in a report on Thursday, July 10th. They set a “strong-buy” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. BNP Paribas Exane raised shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price objective for the company in a research report on Friday, June 27th. Royal Bank Of Canada increased their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Westpark Capital reissued a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $262.87.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last ninety days. Company 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.