Atlanta Capital Group Lowers stake in Amazon.com (AMZN)

Amazon.com (AMZN) : Atlanta Capital Group reduced its stake in Amazon.com by 3.08% during the most recent quarter end. The investment management company now holds a total of 8,967 shares of Amazon.com which is valued at $6,873,744 after selling 285 shares in Amazon.com , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Amazon.com makes up approximately 1.47% of Atlanta Capital Group’s portfolio.

Other Hedge Funds, Including , Kayne Anderson Rudnick Investment Management boosted its stake in AMZN in the latest quarter, The investment management firm added 3,808 additional shares and now holds a total of 40,517 shares of Amazon.com which is valued at $31,058,712. Amazon.com makes up approx 0.46% of Kayne Anderson Rudnick Investment Management’s portfolio.Btc Capital Management boosted its stake in AMZN in the latest quarter, The investment management firm added 481 additional shares and now holds a total of 4,372 shares of Amazon.com which is valued at $3,299,286. Amazon.com makes up approx 0.70% of Btc Capital Management’s portfolio.Mechanics Bank Trust Department boosted its stake in AMZN in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 585 shares of Amazon.com which is valued at $436,246. Amazon.com makes up approx 0.16% of Mechanics Bank Trust Department’s portfolio.

Amazon.com opened for trading at $764.41 and hit $765.22 on the upside on Wednesday, eventually ending the session at $764.63, with a gain of 0.08% or 0.59 points. The heightened volatility saw the trading volume jump to 18,91,116 shares. Company has a market cap of $362,491 M.

On the company’s financial health, Amazon.com reported $1.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.66 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.12. The company had revenue of $30404.00 million for the quarter, compared to analysts expectations of $29566.97 million. The company’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by MKM Partners on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 995 from a previous price target of $850 .Company shares were Reiterated by Axiom Capital on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 877 from a previous price target of $853 .Company shares were Reiterated by The Benchmark Company on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 950 from a previous price target of $915 .

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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