Occidental Asset Management LLC Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Occidental Asset Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,068 shares of the e-commerce giant’s stock after selling 284 shares during the quarter. Amazon.com comprises about 0.8% of Occidental Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Occidental Asset Management LLC’s holdings in Amazon.com were worth $4,522,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares during the period. Strid Group LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $43,000. Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $46,000. Finally, Steph & Co. purchased a new stake in shares of Amazon.com in the first quarter valued at about $65,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 1.2 %

Shares of NASDAQ:AMZN opened at $197.59 on Friday. The firm has a 50 day simple moving average of $185.10 and a 200-day simple moving average of $174.15. The company has a market capitalization of $2.06 trillion, a PE ratio of 55.35, a P/E/G ratio of 1.43 and a beta of 1.15. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $200.43. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Analyst Ratings Changes

AMZN has been the subject of a number of analyst reports. Maxim Group dropped their price objective on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Raymond James upped their price objective on shares of Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 1st. Tigress Financial increased their target price on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research note on Wednesday, May 1st. Finally, Argus increased their target price on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $215.86.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold 69,548 shares of company stock valued at $12,774,204 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

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.