Amazon.com, Inc. (NASDAQ:AMZN) is Argus Investors Counsel Inc.'s 9th Largest Position

Argus Investors Counsel Inc. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,705 shares of the e-commerce giant's stock after selling 1,405 shares during the quarter. Amazon.com comprises 2.4% of Argus Investors Counsel Inc.'s holdings, making the stock its 9th largest position. Argus Investors Counsel Inc.'s holdings in Amazon.com were worth $3,178,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AMZN. Vanguard Group Inc. grew its holdings in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. FMR LLC grew its holdings in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC grew its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the period. Finally, Norges Bank acquired a new stake in Amazon.com in the fourth quarter valued at approximately $27,266,582,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the transaction, the chief executive officer now directly owns 2,148,694 shares of the company's stock, valued at $432,532,102.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,037 shares of company stock worth $20,531,075. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Evercore ISI dropped their price objective on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Mizuho dropped their price objective on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays dropped their price objective on Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Moffett Nathanson raised their price objective on Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $235.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.81.

Amazon.com Price Performance

NASDAQ:AMZN opened at $223.30 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.37 trillion, a P/E ratio of 36.37, a P/E/G ratio of 1.68 and a beta of 1.34. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The stock's fifty day moving average is $202.26 and its two-hundred day moving average is $208.72.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. Equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.