Amazon.com, Inc. (AMZN) Shares Sold by Meritage Portfolio Management
Meritage Portfolio Management cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 31.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,767 shares of the e-commerce giant’s stock after selling 7,779 shares during the period. Amazon.com makes up 1.7% of Meritage Portfolio Management’s holdings, making the stock its 6th largest position. Meritage Portfolio Management’s holdings in Amazon.com were worth $16,231,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Amazon.com by 1.1% in the first quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after purchasing an additional 186,756 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Amazon.com by 1.1% in the first quarter. Fisher Asset Management LLC now owns 2,024,756 shares of the e-commerce giant’s stock valued at $1,795,028,000 after purchasing an additional 22,032 shares during the period. American Century Companies Inc. increased its holdings in shares of Amazon.com by 0.5% in the first quarter. American Century Companies Inc. now owns 1,647,564 shares of the e-commerce giant’s stock valued at $1,460,631,000 after purchasing an additional 8,704 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Amazon.com by 2.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,264,887 shares of the e-commerce giant’s stock valued at $1,121,373,000 after purchasing an additional 29,920 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Amazon.com by 11.9% in the first quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock valued at $783,286,000 after purchasing an additional 93,757 shares during the period. 60.76% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Amazon.com, Inc. (NASDAQ AMZN) traded down 0.51% during mid-day trading on Thursday, reaching $968.26. The company had a trading volume of 1,439,648 shares. The company’s 50-day moving average is $973.80 and its 200 day moving average is $952.61. The stock has a market capitalization of $465.13 billion, a P/E ratio of 246.25 and a beta of 1.47. Amazon.com, Inc. has a 52-week low of $710.10 and a 52-week high of $1,083.31.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($1.00). The business had revenue of $37.96 billion for the quarter, compared to the consensus estimate of $37.18 billion. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. Analysts anticipate that Amazon.com, Inc. will post $3.89 EPS for the current fiscal year.
In other news, insider Brian T. Olsavsky sold 2,334 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $988.90, for a total transaction of $2,308,092.60. Following the transaction, the insider now owns 1,748 shares in the company, valued at approximately $1,728,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total transaction of $2,674,560.00. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $9,552,000. The disclosure for this sale can be found here. Insiders have sold a total of 9,793 shares of company stock worth $9,574,377 in the last 90 days. 17.70% of the stock is owned by insiders.
AMZN has been the topic of a number of research reports. Credit Suisse Group reissued an “outperform” rating on shares of Amazon.com in a report on Thursday, August 31st. Cowen and Company reissued an “outperform” rating and issued a $1,125.00 price objective on shares of Amazon.com in a report on Thursday, August 10th. Deutsche Bank AG reissued a “buy” rating on shares of Amazon.com in a report on Monday, June 12th. Zacks Investment Research lowered Amazon.com from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Barclays PLC increased their price objective on Amazon.com from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-six have assigned a buy rating and two have issued a strong buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and an average target price of $1,096.67.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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