Sigma Investment Counselors Inc. Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sigma Investment Counselors Inc. trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,505 shares of the e-commerce giant’s stock after selling 1,297 shares during the quarter. Amazon.com accounts for about 0.8% of Sigma Investment Counselors Inc.’s portfolio, making the stock its 26th largest position. Sigma Investment Counselors Inc.’s holdings in Amazon.com were worth $15,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Collective Family Office LLC increased its holdings in shares of Amazon.com by 9.7% during the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after acquiring an additional 819 shares in the last quarter. Phillips Wealth Planners LLC increased its stake in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after purchasing an additional 224 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Amazon.com during the 4th quarter valued at approximately $5,926,000. Clearstead Trust LLC raised its holdings in shares of Amazon.com by 25.8% in the fourth quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock worth $9,958,000 after buying an additional 13,454 shares during the last quarter. Finally, Summa Corp. acquired a new stake in shares of Amazon.com during the fourth quarter worth $1,506,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. Wolfe Research initiated coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 target price on the stock. The Goldman Sachs Group cut their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald began coverage on Amazon.com in a research report on Thursday, September 5th. They issued an “overweight” rating and a $230.00 target price on the stock. Finally, Tigress Financial lifted their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $222.49.

Amazon.com Price Performance

AMZN stock opened at $184.89 on Tuesday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $1.92 trillion, a PE ratio of 51.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The business has a 50 day simple moving average of $179.22 and a 200-day simple moving average of $181.74.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during 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%. Equities research analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the sale, the insider now owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322 over the last ninety days. Company insiders own 10.80% of the company’s stock.

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.