Nichols & Pratt Advisers LLP MA Sells 2,008 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Nichols & Pratt Advisers LLP MA reduced its holdings in Amazon.com, Inc. by 1.0%, owning 193,981 shares valued at approximately $36.94 million, making it the firm's 14th largest holding.
• Several institutional investors increased their stakes in Amazon, with Paul R. Ried Financial Group LLC leading with a 41.4% increase, now holding nearly 11,000 shares.
• Amazon's stock currently has a consensus rating of "Moderate Buy" with an average price target of $255.52, following various analysts upgrading their ratings.

Nichols & Pratt Advisers LLP MA lowered its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 193,981 shares of the e-commerce giant's stock after selling 2,008 shares during the period. Amazon.com accounts for approximately 2.5% of Nichols & Pratt Advisers LLP MA's portfolio, making the stock its 14th largest position. Nichols & Pratt Advisers LLP MA's holdings in Amazon.com were worth $36,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Capital Management Inc. raised its holdings in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after buying an additional 45 shares during the last quarter. Balanced Wealth Group LLC raised its holdings in Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after buying an additional 48 shares during the last quarter. ETF Store Inc. raised its holdings in Amazon.com by 2.1% during the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock worth $522,000 after buying an additional 48 shares during the last quarter. Chatham Capital Group Inc. raised its holdings in Amazon.com by 0.8% during the fourth quarter. Chatham Capital Group Inc. now owns 6,019 shares of the e-commerce giant's stock worth $1,321,000 after buying an additional 50 shares during the last quarter. Finally, Foundry Financial Group Inc. raised its holdings in Amazon.com by 3.5% during the fourth quarter. Foundry Financial Group Inc. now owns 1,507 shares of the e-commerce giant's stock worth $331,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMZN. BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Benchmark reiterated a "buy" rating and issued a $260.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Citigroup upped their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Amazon.com from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Citizens Jmp initiated coverage on shares of Amazon.com in a research note on Thursday, July 10th. They issued a "strong-buy" rating for the company. Three equities research analysts have rated the stock with a hold rating, forty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $260.85.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 25,099,537 shares of company stock worth $5,674,394,548 over the last quarter. Company insiders own 9.70% of the company's stock.

Amazon.com Price Performance

AMZN traded down $19.36 on Friday, reaching $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The business has a 50 day simple moving average of $217.93 and a 200 day simple moving average of $209.23. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.74 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 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $1.26 earnings per share. As a group, sell-side analysts anticipate 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.