Citizens Business Bank Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Citizens Business Bank trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,655 shares of the e-commerce giant’s stock after selling 408 shares during the quarter. Amazon.com comprises 1.7% of Citizens Business Bank’s investment portfolio, making the stock its 12th biggest position. Citizens Business Bank’s holdings in Amazon.com were worth $8,134,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Callan Family Office LLC lifted its position in Amazon.com by 380.9% in the second quarter. Callan Family Office LLC now owns 29,693 shares of the e-commerce giant’s stock valued at $5,738,000 after buying an additional 23,518 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $3,725,000. Trust Co. of Virginia VA lifted its holdings in shares of Amazon.com by 1.0% in the 2nd quarter. Trust Co. of Virginia VA now owns 89,331 shares of the e-commerce giant’s stock worth $17,263,000 after acquiring an additional 889 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Amazon.com by 0.8% during the 2nd quarter. State of Michigan Retirement System now owns 3,010,920 shares of the e-commerce giant’s stock worth $581,860,000 after purchasing an additional 23,500 shares during the period. Finally, Helios Capital Management PTE. Ltd. boosted its position in shares of Amazon.com by 15.1% during the 2nd quarter. Helios Capital Management PTE. Ltd. now owns 40,500 shares of the e-commerce giant’s stock worth $7,827,000 after purchasing an additional 5,300 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 1.2 %

Shares of NASDAQ:AMZN opened at $220.66 on Friday. Amazon.com, Inc. has a 1-year low of $149.91 and a 1-year high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market cap of $2.32 trillion, a P/E ratio of 47.25, a P/E/G ratio of 1.22 and a beta of 1.14. The firm has a fifty day moving average price of $217.35 and a 200 day moving average price of $195.93.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts predict that Amazon.com, Inc. will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Loop Capital boosted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. HSBC raised their target price on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research note on Tuesday, December 10th. Finally, Benchmark lifted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $245.65.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares in the company, valued at $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by insiders.

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.