Fort Pitt Capital Group LLC Has $3.86 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fort Pitt Capital Group LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,415 shares of the e-commerce giant’s stock after selling 3,094 shares during the period. Fort Pitt Capital Group LLC’s holdings in Amazon.com were worth $3,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cooksen Wealth LLC acquired a new position in Amazon.com during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Amazon.com by 45.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 86 shares during the last quarter. Strid Group LLC bought a new position in shares of Amazon.com in the 4th quarter valued at about $43,000. Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $46,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Amazon.com during the fourth quarter worth about $57,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Amazon.com stock opened at $186.34 on Wednesday. The stock has a fifty day moving average of $182.88 and a 200-day moving average of $172.28. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 52.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $191.70.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at $24,214,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the transaction, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock valued at $11,894,344 in the last quarter. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMZN. BMO Capital Markets boosted their price target on Amazon.com from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Maxim Group lowered their target price on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Moffett Nathanson reiterated a “buy” rating and issued a $228.00 price target on shares of Amazon.com in a research note on Thursday, April 11th. Robert W. Baird upped their target price on shares of Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Finally, Morgan Stanley lifted their price target on Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $215.37.

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.