Novare Capital Management LLC Has $25.47 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Novare Capital Management LLC has increased its stake in Amazon.com, now owning 133,875 shares, making it the firm’s 9th largest position with a value of approximately $25.47 million.
• Amazon reported $1.68 earnings per share (EPS) for the last quarter, significantly exceeding analysts' expectations, and saw a year-over-year revenue increase of 13.3%.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon recently, bringing his remaining ownership to approximately $203.65 billion.

Novare Capital Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 133,875 shares of the e-commerce giant's stock after purchasing an additional 2,462 shares during the period. Amazon.com makes up 2.2% of Novare Capital Management LLC's holdings, making the stock its 9th largest position. Novare Capital Management LLC's holdings in Amazon.com were worth $25,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Northern Capital Management Inc. increased its holdings in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after acquiring an additional 45 shares during the last quarter. Balanced Wealth Group LLC increased its holdings in shares of Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after acquiring an additional 48 shares during the last quarter. ETF Store Inc. increased its holdings in shares of Amazon.com by 2.1% during the 4th quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after acquiring an additional 48 shares during the last quarter. Chatham Capital Group Inc. increased its holdings in shares of Amazon.com by 0.8% during the 4th quarter. Chatham Capital Group Inc. now owns 6,019 shares of the e-commerce giant's stock valued at $1,321,000 after acquiring an additional 50 shares during the last quarter. Finally, Foundry Financial Group Inc. increased its holdings in shares of Amazon.com by 3.5% during the 4th quarter. Foundry Financial Group Inc. now owns 1,507 shares of the e-commerce giant's stock valued at $331,000 after acquiring an additional 51 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Down 8.3%

AMZN traded down $19.36 on Friday, hitting $214.75. 122,007,379 shares of the company were exchanged, compared to its average volume of 37,811,656. The stock's fifty day moving average is $218.20 and its 200-day moving average is $209.21. The company has a market cap of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

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 for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The firm had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred 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 sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 25,099,537 shares of company stock worth $5,674,394,548 over the last 90 days. Corporate insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMZN shares. Rosenblatt Securities increased their price objective on Amazon.com from $288.00 to $297.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company raised their target price on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday. Wall Street Zen raised Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird raised their target price on Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Mizuho lowered their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has an average rating of "Buy" and a consensus target price of $260.85.

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.