Griffin Asset Management Inc. Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Griffin Asset Management Inc. lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,084 shares of the e-commerce giant’s stock after selling 88 shares during the period. Amazon.com makes up about 1.1% of Griffin Asset Management Inc.’s portfolio, making the stock its 20th biggest holding. Griffin Asset Management Inc.’s holdings in Amazon.com were worth $7,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 31,312,832 shares of the e-commerce giant’s stock worth $59,294,918,000 after buying an additional 387,740 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Amazon.com by 1.6% during the 2nd quarter. BlackRock Inc. now owns 26,082,028 shares of the e-commerce giant’s stock worth $49,389,711,000 after purchasing an additional 415,448 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Amazon.com by 191,406.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 9,307,191 shares of the e-commerce giant’s stock worth $930,719,000 after purchasing an additional 9,302,331 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Amazon.com by 1.2% during the 2nd quarter. Northern Trust Corp now owns 4,997,392 shares of the e-commerce giant’s stock worth $9,463,210,000 after purchasing an additional 57,712 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of Amazon.com by 0.9% during the 2nd quarter. Baillie Gifford & Co. now owns 4,449,842 shares of the e-commerce giant’s stock worth $8,426,354,000 after purchasing an additional 41,699 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

Shares of NASDAQ:AMZN traded down $16.80 during trading on Wednesday, hitting $1,761.20. The company’s stock had a trading volume of 172,732 shares, compared to its average volume of 3,998,252. The business has a 50 day moving average price of $1,758.47 and a two-hundred day moving average price of $1,838.37. The company has a market capitalization of $885.43 billion, a PE ratio of 87.45, a P/E/G ratio of 3.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.84 and a current ratio of 1.10. Amazon.com, Inc. has a fifty-two week low of $1,307.00 and a fifty-two week high of $2,035.80.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 24th. The e-commerce giant reported $4.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($0.23). The business had revenue of $69.98 billion during the quarter, compared to analyst estimates of $68.72 billion. Amazon.com had a return on equity of 22.52% and a net margin of 4.27%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.75 EPS. As a group, equities analysts expect that Amazon.com, Inc. will post 20.52 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on AMZN shares. Monness Crespi & Hardt set a $2,300.00 target price on Amazon.com and gave the stock a “buy” rating in a report on Friday, October 18th. Wedbush lowered their target price on Amazon.com from $2,350.00 to $2,000.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. SunTrust Banks boosted their target price on Amazon.com from $2,200.00 to $2,350.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Susquehanna Bancshares set a $2,200.00 target price on Amazon.com and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wolfe Research started coverage on Amazon.com in a report on Tuesday, October 8th. They set an “outperform” rating and a $2,234.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and forty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $2,189.97.

In related news, Director Judith A. Mcgrath sold 304 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $1,749.91, for a total transaction of $531,972.64. Following the completion of the transaction, the director now owns 2,324 shares in the company, valued at $4,066,790.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey A. Wilke sold 3,475 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,773.99, for a total transaction of $6,164,615.25. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $17,739,900. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,747 shares of company stock valued at $40,737,808. Insiders own 16.10% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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