Berkshire Asset Management LLC PA Decreases Position in Amazon.com, Inc. (AMZN)

Berkshire Asset Management LLC PA trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,652 shares of the e-commerce giant’s stock after selling 135 shares during the period. Berkshire Asset Management LLC PA’s holdings in Amazon.com were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of AMZN. State Street Corp raised its stake in shares of Amazon.com by 1.1% during the 1st quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock worth $14,667,392,000 after acquiring an additional 186,756 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Amazon.com during the 1st quarter worth approximately $157,189,000. Canada Pension Plan Investment Board raised its stake in shares of Amazon.com by 401.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 158,030 shares of the e-commerce giant’s stock worth $140,100,000 after acquiring an additional 126,534 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Amazon.com by 11.9% during the 1st quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock worth $783,286,000 after acquiring an additional 93,757 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Amazon.com by 893.7% during the 1st quarter. Bank of Nova Scotia now owns 91,200 shares of the e-commerce giant’s stock worth $80,853,000 after acquiring an additional 82,022 shares in the last quarter. Institutional investors and hedge funds own 60.76% of the company’s stock.

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Several research firms have weighed in on AMZN. Morgan Stanley reissued a “buy” rating on shares of Amazon.com in a report on Monday. Argus restated a “buy” rating and set a $1,150.00 price objective on shares of Amazon.com in a research report on Thursday. Loop Capital restated a “buy” rating and set a $1,200.00 price objective on shares of Amazon.com in a research report on Tuesday, September 19th. UBS AG restated a “buy” rating and set a $1,200.00 price objective on shares of Amazon.com in a research report on Saturday, September 16th. Finally, Barclays PLC restated an “overweight” rating and set a $1,150.00 price objective on shares of Amazon.com in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, forty-six have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $1,101.25.

In other news, CEO Jeffrey A. Wilke sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $955.20, for a total transaction of $2,674,560.00. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $9,552,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian T. Olsavsky sold 2,334 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $988.90, for a total value of $2,308,092.60. Following the transaction, the insider now owns 1,748 shares in the company, valued at approximately $1,728,597.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,793 shares of company stock worth $9,574,377. 17.70% of the stock is owned by corporate insiders.

Shares of Amazon.com, Inc. (NASDAQ:AMZN) opened at 955.10 on Monday. The stock has a market capitalization of $458.81 billion, a P/E ratio of 242.90 and a beta of 1.47. Amazon.com, Inc. has a 52 week low of $710.10 and a 52 week high of $1,083.31. The company has a 50-day moving average price of $973.80 and a 200 day moving average price of $952.61.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($1.00). The business had revenue of $37.96 billion during the quarter, compared to the consensus estimate of $37.18 billion. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. Amazon.com’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts forecast that Amazon.com, Inc. will post $3.68 earnings per share for the current fiscal year.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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

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