Riggs Asset Managment Co. Inc. Has $6.93 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Riggs Asset Managment Co. Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,843 shares of the e-commerce giant’s stock after selling 87 shares during the quarter. Amazon.com accounts for 2.1% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 16th biggest position. Riggs Asset Managment Co. Inc.’s holdings in Amazon.com were worth $6,927,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of Amazon.com by 291.8% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock valued at $4,406,000 after buying an additional 21,595 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Amazon.com by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 42,241,587 shares of the e-commerce giant’s stock valued at $6,418,187,000 after buying an additional 888,369 shares during the last quarter. Mechanics Financial Corp boosted its holdings in shares of Amazon.com by 1.5% in the 4th quarter. Mechanics Financial Corp now owns 16,887 shares of the e-commerce giant’s stock valued at $2,566,000 after buying an additional 245 shares during the last quarter. West Family Investments Inc. boosted its holdings in shares of Amazon.com by 1.0% in the 4th quarter. West Family Investments Inc. now owns 22,424 shares of the e-commerce giant’s stock valued at $3,407,000 after buying an additional 221 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Amazon.com by 0.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,163,226 shares of the e-commerce giant’s stock valued at $784,501,000 after buying an additional 21,404 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $191.60 on Friday. The stock’s 50-day simple moving average is $178.54 and its 200 day simple moving average is $182.04. The firm has a market capitalization of $1.99 trillion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

AMZN has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Stifel Nicolaus cut their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Roth Mkm increased their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Tigress Financial increased their price target on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Buy” and a consensus price target of $222.84.

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.