Somerset Group LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Somerset Group LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,474 shares of the e-commerce giant’s stock after selling 431 shares during the quarter. Amazon.com makes up about 4.5% of Somerset Group LLC’s investment portfolio, making the stock its 7th largest holding. Somerset Group LLC’s holdings in Amazon.com were worth $5,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMZN. Phillips Wealth Planners LLC raised its stake in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after buying an additional 224 shares during the last quarter. Stonekeep Investments LLC purchased a new position in Amazon.com during the second quarter valued at $2,588,000. Concord Investment Counsel Inc. purchased a new position in Amazon.com during the first quarter valued at $20,790,000. O Shaughnessy Asset Management LLC raised its stake in Amazon.com by 26.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after buying an additional 133,471 shares during the last quarter. Finally, Eos Management L.P. raised its stake in shares of Amazon.com by 27.1% in the second quarter. Eos Management L.P. now owns 47,554 shares of the e-commerce giant’s stock worth $9,190,000 after purchasing an additional 10,147 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AMZN. Loop Capital boosted their price target on Amazon.com from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Rosenblatt Securities lifted their price objective on Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company lowered Amazon.com from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $225.00 to $183.00 in a report on Monday, October 7th. Finally, Pivotal Research assumed coverage on Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Trading Up 0.8 %

AMZN opened at $188.99 on Friday. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 52.94, a P/E/G ratio of 1.38 and a beta of 1.14. The stock’s 50 day moving average price is $181.98 and its 200-day moving average price is $183.42. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, equities analysts forecast that Amazon.com, Inc. will post 4.85 EPS for the current year.

About Amazon.com

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.