Lorne Steinberg Wealth Management Inc. Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Lorne Steinberg Wealth Management Inc. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 37,036 shares of the e-commerce giant’s stock after selling 69 shares during the period. Amazon.com makes up approximately 2.3% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 14th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Amazon.com were worth $7,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Vanguard Group Inc. boosted its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter worth $17,700,551,000. Capital Research Global Investors boosted its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Amazon.com by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after purchasing an additional 1,525,922 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. Itau BBA Securities lowered shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Buy” and an average target price of $221.36.

Amazon.com Stock Up 3.7 %

Shares of NASDAQ:AMZN opened at $178.50 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock has a market capitalization of $1.86 trillion, a P/E ratio of 50.00, a PEG ratio of 1.34 and a beta of 1.15. The stock has a 50-day simple moving average of $182.54 and a 200-day simple moving average of $181.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Equities analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is currently owned by company insiders.

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.