Amazon.com, Inc. (NASDAQ:AMZN) Stake Trimmed by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,714 shares of the e-commerce giant's stock after selling 4,160 shares during the quarter. Amazon.com makes up about 5.8% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Shikiar Asset Management Inc.'s holdings in Amazon.com were worth $19,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AMZN. Momentous Wealth Management Inc. bought a new position in Amazon.com during the fourth quarter worth $749,000. Segall Bryant & Hamill LLC lifted its stake in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Bearing Point Capital LLC bought a new position in Amazon.com during the fourth quarter worth $12,014,000. Evergreen Capital Management LLC lifted its stake in Amazon.com by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock worth $53,213,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Amazon.com by 173.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock worth $759,434,000 after purchasing an additional 2,196,353 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMZN. Wedbush restated an "outperform" rating and set a $235.00 price objective (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an "outperform" rating in a research note on Tuesday. Stifel Nicolaus reduced their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities raised their target price on Amazon.com from $287.00 to $288.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on Amazon.com from $225.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and a consensus target price of $245.60.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president owned 119,780 shares of the company's stock, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 224,926 shares of Amazon.com stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $223.56, for a total value of $50,284,456.56. Following the completion of the transaction, the insider directly owned 905,454,975 shares in the company, valued at $202,423,514,211. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,426,963 shares of company stock valued at $757,297,707 in the last quarter. 9.70% of the stock is owned by company insiders.

Amazon.com Price Performance

Amazon.com stock traded up $3.21 during midday trading on Friday, hitting $223.13. The company's stock had a trading volume of 29,632,353 shares, compared to its average volume of 42,031,611. 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 stock's 50-day moving average price is $206.44 and its 200-day moving average price is $208.62. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33.

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

Amazon.com 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.