Fortis Group Advisors LLC Has $7.62 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fortis Group Advisors LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,071 shares of the e-commerce giant's stock after selling 2,692 shares during the quarter. Amazon.com comprises approximately 1.5% of Fortis Group Advisors LLC's holdings, making the stock its 12th largest position. Fortis Group Advisors LLC's holdings in Amazon.com were worth $7,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Amazon.com during the 4th quarter valued at $27,266,582,000. GAMMA Investing LLC raised its stake in Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Capital World Investors raised its stake in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. raised its stake in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. Finally, Capital International Investors raised its stake in Amazon.com by 26.5% during the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Amazon.com from $250.00 to $275.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Barclays boosted their price target on shares of Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Susquehanna boosted their price target on shares of Amazon.com from $225.00 to $260.00 and gave the company a "positive" rating in a report on Friday, August 1st. Finally, Oppenheimer lowered their price target on shares of Amazon.com from $250.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $262.87.

Amazon.com Price Performance

AMZN traded up $0.05 on Friday, hitting $231.03. 39,600,434 shares of the stock were exchanged, compared to its average volume of 47,994,872. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The business has a 50-day moving average of $221.41 and a two-hundred day moving average of $208.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Amazon.com's revenue was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at $111,114,850. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the transaction, the insider owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last ninety days. 9.70% of the stock is currently owned by company insiders.

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.