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

Sigma Investment Counselors Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 75,877 shares of the e-commerce giant’s stock after selling 3,346 shares during the quarter. Amazon.com comprises approximately 0.9% of Sigma Investment Counselors Inc.’s holdings, making the stock its 27th largest holding. Sigma Investment Counselors Inc.’s holdings in Amazon.com were worth $14,436,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new position in Amazon.com during the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in Amazon.com during the 4th quarter worth approximately $35,000. Cooksen Wealth LLC acquired a new position in Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Amazon.com during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 25,099,537 shares of company stock valued at $5,674,394,548 over the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Cowen reissued a “buy” rating on shares of Amazon.com in a research report on Friday. Sanford C. Bernstein set a $235.00 price target on Amazon.com and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Oppenheimer reduced their price target on Amazon.com from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America boosted their price target on Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday. Finally, DA Davidson upped their target price on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $262.45.

View Our Latest Analysis on Amazon.com

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $214.75 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business’s fifty day moving average price is $218.20 and its two-hundred day moving average price is $209.11. The firm has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.59 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The company had revenue of $167.70 billion during the quarter, compared to analysts’ expectations of $161.80 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

About Amazon.com

(Free Report)

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.