Pinnacle Holdings LLC Has $2.32 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Holdings LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,554 shares of the e-commerce giant’s stock after selling 709 shares during the period. Pinnacle Holdings LLC’s holdings in Amazon.com were worth $2,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cable Hill Partners LLC lifted its position in Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares in the last quarter. Quattro Financial Advisors LLC lifted its position in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Northern Capital Management Inc. grew its stake in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after purchasing an additional 45 shares during the last quarter. White Wing Wealth Management increased its holdings in shares of Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after purchasing an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in Amazon.com by 0.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 2.0 %

Shares of NASDAQ:AMZN opened at $188.71 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company’s fifty day moving average is $188.97 and its two-hundred day moving average is $207.75. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,298 shares of company stock worth $23,818,478. 9.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Bank of America cut their price objective on Amazon.com from $257.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group cut their price target on Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $244.09.

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.