Beach Investment Counsel Inc. PA Sells 17,624 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Beach Investment Counsel Inc. PA decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,054 shares of the e-commerce giant's stock after selling 17,624 shares during the quarter. Amazon.com makes up about 4.5% of Beach Investment Counsel Inc. PA's holdings, making the stock its 5th biggest position. Beach Investment Counsel Inc. PA's holdings in Amazon.com were worth $30,262,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Amazon.com in the 4th quarter valued at $800,000. Capital & Planning LLC increased its position in shares of Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after purchasing an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC increased its position in Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after acquiring an additional 860 shares in the last quarter. Brighton Jones LLC increased its position in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after acquiring an additional 397,007 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Amazon.com in the 4th quarter valued at about $301,650,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMZN shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Tigress Financial lifted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Bank of America lifted their price target on shares of Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.53.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the sale, the vice president now owns 119,780 shares of the company's stock, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of AMZN opened at $209.69 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company's fifty day simple moving average is $198.41 and its 200 day simple moving average is $209.25. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market cap of $2.23 trillion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.59 and a beta of 1.33.

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

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