Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,931 shares of the e-commerce giant’s stock after selling 1,753 shares during the period. Amazon.com comprises about 1.0% of Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s portfolio, making the stock its 21st largest holding. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Amazon.com were worth $16,963,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in AMZN. Laurel Wealth Planning LLC grew its position in Amazon.com by 57.1% in the 2nd quarter. Laurel Wealth Planning LLC now owns 22 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 8 shares in the last quarter. Newfound Research LLC increased its holdings in Amazon.com by 62.5% in the second quarter. Newfound Research LLC now owns 26 shares of the e-commerce giant’s stock worth $89,000 after buying an additional 10 shares during the last quarter. Horan Securities Inc. increased its holdings in Amazon.com by 125.0% in the second quarter. Horan Securities Inc. now owns 27 shares of the e-commerce giant’s stock worth $92,000 after buying an additional 15 shares during the last quarter. Saban Cheryl acquired a new position in Amazon.com during the first quarter valued at approximately $102,000. Finally, regents capital Ltd bought a new stake in shares of Amazon.com in the first quarter valued at approximately $105,000. Institutional investors and hedge funds own 57.67% of the company’s stock.
Several brokerages recently commented on AMZN. BMO Capital Markets reduced their target price on Amazon.com from $4,300.00 to $4,100.00 and set an “outperform” rating for the company in a research report on Friday, July 30th. Jefferies Financial Group assumed coverage on Amazon.com in a research note on Friday, July 30th. They issued a “buy” rating and a $4,200.00 target price for the company. Bank of America lowered their target price on Amazon.com from $4,350.00 to $4,250.00 and set a “buy” rating for the company in a research note on Friday, July 30th. Benchmark lowered their target price on Amazon.com from $4,400.00 to $4,200.00 and set a “buy” rating for the company in a research note on Friday, July 30th. Finally, Evercore ISI raised their target price on Amazon.com from $4,200.00 to $4,700.00 and gave the company an “outperform” rating in a research note on Tuesday, September 14th. One investment analyst has rated the stock with a hold rating and forty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $4,151.30.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, July 28th. The e-commerce giant reported $15.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.22 by $2.90. The company had revenue of $113.08 billion for the quarter, compared to the consensus estimate of $115.08 billion. Amazon.com had a return on equity of 29.86% and a net margin of 6.64%. As a group, equities analysts forecast that Amazon.com, Inc. will post 52.18 EPS for the current fiscal year.
In other Amazon.com news, CEO David H. Clark sold 243 shares of the stock in a transaction on Wednesday, July 7th. The stock was sold at an average price of $3,717.29, for a total value of $903,301.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 222 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $3,283.00, for a total value of $728,826.00. Following the transaction, the vice president now owns 6,211 shares of the company’s stock, valued at approximately $20,390,713. The disclosure for this sale can be found here. Insiders sold a total of 4,463 shares of company stock worth $14,784,642 over the last ninety days. 14.00% of the stock is currently owned by insiders.
Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.
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