MidWestOne Financial Group Inc. Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

MidWestOne Financial Group Inc. decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,337 shares of the e-commerce giant’s stock after selling 380 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Amazon.com were worth $3,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Levy Wealth Management Group LLC grew its holdings in Amazon.com by 1.2% during the 2nd quarter. Levy Wealth Management Group LLC now owns 8,887 shares of the e-commerce giant’s stock valued at $1,717,000 after buying an additional 106 shares during the last quarter. David Kennon Inc raised its holdings in shares of Amazon.com by 2.4% in the second quarter. David Kennon Inc now owns 2,960 shares of the e-commerce giant’s stock worth $572,000 after acquiring an additional 70 shares during the last quarter. Aries Wealth Management lifted its position in shares of Amazon.com by 0.7% in the second quarter. Aries Wealth Management now owns 40,983 shares of the e-commerce giant’s stock valued at $7,920,000 after acquiring an additional 295 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of Amazon.com during the second quarter valued at $85,582,000. Finally, Optas LLC increased its position in Amazon.com by 3.6% during the 2nd quarter. Optas LLC now owns 35,099 shares of the e-commerce giant’s stock worth $6,783,000 after purchasing an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMZN shares. JPMorgan Chase & Co. upped their target price on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets reissued an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a research note on Tuesday, December 3rd. HSBC lifted their target price on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Finally, Stifel Nicolaus lifted their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Down 0.3 %

AMZN opened at $217.76 on Wednesday. The company’s 50 day moving average price is $217.02 and its two-hundred day moving average price is $195.74. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $149.91 and a fifty-two week 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.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share 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.