New Century Investment Management Inc Lowers stake in Amazon.com (AMZN)

Amazon.com (AMZN) : New Century Investment Management Inc reduced its stake in Amazon.com by 11.51% during the most recent quarter end. The investment management company now holds a total of 11,487 shares of Amazon.com which is valued at $8,556,207 after selling 1,494 shares in Amazon.com , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Amazon.com makes up approximately 4.39% of New Century Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Wealthtrust-arizona boosted its stake in AMZN in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 85 shares of Amazon.com which is valued at $63,313. Amazon.com makes up approx 0.04% of Wealthtrust-arizona’s portfolio.Tnb Financial boosted its stake in AMZN in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 10,654 shares of Amazon.com which is valued at $7,944,901. Amazon.com makes up approx 2.03% of Tnb Financial’s portfolio.Beech Hill Advisors boosted its stake in AMZN in the latest quarter, The investment management firm added 539 additional shares and now holds a total of 2,849 shares of Amazon.com which is valued at $2,124,556. Amazon.com makes up approx 1.38% of Beech Hill Advisors’s portfolio.Hartford Financial Management boosted its stake in AMZN in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 475 shares of Amazon.com which is valued at $349,334. Amazon.com makes up approx 0.20% of Hartford Financial Management’s portfolio.Centurylink Investment Management Co boosted its stake in AMZN in the latest quarter, The investment management firm added 262 additional shares and now holds a total of 7,418 shares of Amazon.com which is valued at $5,532,419. Amazon.com makes up approx 1.94% of Centurylink Investment Management Co’s portfolio.

Amazon.com opened for trading at $744 and hit $746.25 on the upside on Wednesday, eventually ending the session at $745.72, with a gain of 0.78% or 5.77 points. The heightened volatility saw the trading volume jump to 22,14,023 shares. Company has a market cap of $351,852 M.

On the company’s financial health, Amazon.com reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.47 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.60. The company had revenue of $29128.00 million for the quarter.The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by Goldman on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 900 from a previous price target of $790 .Company shares were Reiterated by The Benchmark Company on Jul 13, 2016 to “Buy”, Firm has raised the Price Target to $ 915 from a previous price target of $750 .Company shares were Reiterated by Axiom Capital on Jul 11, 2016 to “Buy”, Firm has raised the Price Target to $ 853 from a previous price target of $811 .

Amazon.com Inc. (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices including Kindle e-readers Fire tablets Fire TVs Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.

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