Amazon.com, Inc. $AMZN Shares Sold by Somerville Kurt F

Key Points

• Somerville Kurt F reduced its stake in Amazon.com, Inc. by 1.7% in Q1 2023, now holding 102,908 shares valued at approximately $19.58 million.
• Insider sales included Jeffrey P. Bezos selling over 2.6 million shares for over $609 million, representing a slight decrease in his holdings.
• Amazon reported a quarterly EPS of $1.68, surpassing estimates, with revenue reaching $167.70 billion, marking a 13.3% year-over-year increase.

Somerville Kurt F cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 102,908 shares of the e-commerce giant's stock after selling 1,760 shares during the quarter. Amazon.com comprises 3.4% of Somerville Kurt F's holdings, making the stock its 9th biggest position. Somerville Kurt F's holdings in Amazon.com were worth $19,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. First National Bank of Hutchinson grew its position in shares of Amazon.com by 3.8% in the 1st quarter. First National Bank of Hutchinson now owns 25,582 shares of the e-commerce giant's stock valued at $4,867,000 after purchasing an additional 937 shares during the period. Sustainable Growth Advisers LP grew its position in shares of Amazon.com by 6.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 6,573,828 shares of the e-commerce giant's stock valued at $1,250,737,000 after purchasing an additional 380,790 shares during the period. Loudon Investment Management LLC grew its position in shares of Amazon.com by 10.2% in the 1st quarter. Loudon Investment Management LLC now owns 1,080 shares of the e-commerce giant's stock valued at $205,000 after purchasing an additional 100 shares during the period. BlueChip Wealth Advisors LLC boosted its position in Amazon.com by 13.1% during the 1st quarter. BlueChip Wealth Advisors LLC now owns 4,646 shares of the e-commerce giant's stock worth $884,000 after acquiring an additional 537 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Amazon.com by 1.2% during the 1st quarter. Proficio Capital Partners LLC now owns 83,328 shares of the e-commerce giant's stock worth $15,906,000 after acquiring an additional 952 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 4,784 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $232.32, for a total value of $1,111,418.88. Following the sale, the chief executive officer directly owned 510,255 shares of the company's stock, valued at $118,542,441.60. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,012,284 shares of company stock valued at $5,656,976,492 in the last ninety days. Insiders own 9.70% of the company's stock.

Amazon.com Trading Down 1.8%

Shares of Amazon.com stock opened at $223.81 on Thursday. The business has a fifty day simple moving average of $222.12 and a two-hundred day simple moving average of $208.46. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the firm posted $1.26 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMZN. BMO Capital Markets upped their price target on Amazon.com from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $265.00 price target on shares of Amazon.com in a research report on Wednesday, August 13th. Susquehanna upped their price target on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Barclays upped their price target on Amazon.com from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Cowen reaffirmed a "buy" rating on shares of Amazon.com in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $262.87.

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.

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