Farmers Trust Co. Reduces Stock Position in Amazon.com, Inc. $AMZN

Farmers Trust Co. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,656 shares of the e-commerce giant’s stock after selling 7,533 shares during the quarter. Amazon.com comprises 1.1% of Farmers Trust Co.’s holdings, making the stock its 28th largest position. Farmers Trust Co.’s holdings in Amazon.com were worth $6,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barlow Wealth Partners Inc. grew its position in Amazon.com by 0.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock worth $2,763,000 after purchasing an additional 44 shares during the period. Ridgecrest Wealth Partners LLC boosted its stake in shares of Amazon.com by 0.5% in the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock worth $1,843,000 after buying an additional 45 shares during the last quarter. Probity Advisors Inc. boosted its stake in shares of Amazon.com by 0.4% in the second quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock worth $2,667,000 after buying an additional 45 shares during the last quarter. Union Savings Bank grew its holdings in Amazon.com by 0.4% during the second quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock worth $2,510,000 after acquiring an additional 45 shares during the period. Finally, Doheny Asset Management CA raised its position in Amazon.com by 0.3% during the second quarter. Doheny Asset Management CA now owns 17,821 shares of the e-commerce giant’s stock valued at $3,910,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 8,173 shares of Amazon.com stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the transaction, the director owned 80,030 shares in the company, valued at approximately $20,009,900.90. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the transaction, the chief executive officer directly owned 6,273 shares in the company, valued at $1,360,613.70. This trade represents a 73.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 82,234 shares of company stock worth $19,076,767. 10.80% of the stock is owned by company insiders.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $222.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $258.60. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 31.44, a PEG ratio of 1.53 and a beta of 1.37. The business has a 50 day simple moving average of $229.40 and a two-hundred day simple moving average of $225.26.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.38. The business had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. As a group, analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent research reports. DA Davidson upped their price objective on Amazon.com from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Benchmark increased their price target on shares of Amazon.com from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Amazon.com in a report on Monday, November 3rd. Oppenheimer reiterated an “outperform” rating and issued a $305.00 price objective (up previously from $290.00) on shares of Amazon.com in a research report on Monday, December 1st. Finally, Wedbush restated an “outperform” rating and set a $340.00 target price on shares of Amazon.com in a research report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

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.