Wilkinson Global Asset Management LLC Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Wilkinson Global Asset Management LLC reduced its stake in Amazon.com by 0.5%, owning 256,833 shares valued at approximately $48.87 million, making Amazon the firm's 15th largest holding.
• Multiple institutional investors have increased their positions in Amazon.com, with Norges Bank purchasing a new stake valued at over $27 billion in the 4th quarter.
• Amazon recently reported earnings of $1.68 per share, exceeding expectations, with a revenue of $167.70 billion for the quarter, representing a 13.3% year-over-year increase.

Wilkinson Global Asset Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,833 shares of the e-commerce giant's stock after selling 1,177 shares during the quarter. Amazon.com comprises 3.1% of Wilkinson Global Asset Management LLC's holdings, making the stock its 15th largest position. Wilkinson Global Asset Management LLC's holdings in Amazon.com were worth $48,865,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $35,000. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $40,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMZN shares. Royal Bank Of Canada raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Westpark Capital restated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. Truist Financial boosted their price objective on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Pivotal Research boosted their price objective on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amazon.com has an average rating of "Buy" and an average target price of $262.45.

Amazon.com Trading Up 0.1%

AMZN traded up $0.17 during mid-day trading on Tuesday, hitting $221.47. 37,075,084 shares of the stock were exchanged, compared to its average volume of 44,927,371. The firm's fifty day moving average is $219.94 and its two-hundred day moving average is $208.52. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.36 trillion, a PE ratio of 33.76, a PEG ratio of 1.50 and a beta of 1.31.

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

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated 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 approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's 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 sale, the chief executive officer directly owned 512,050 shares in the company, valued at $111,114,850. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,101,037 shares of company stock worth $5,674,726,368 in the last three months. Corporate insiders own 10.80% of the company's stock.

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.