Sumitomo Life Insurance Co Lowers stake in Amazon.com (AMZN)

Amazon.com (AMZN) : Sumitomo Life Insurance Co reduced its stake in Amazon.com by 7.23% during the most recent quarter end. The investment management company now holds a total of 16,808 shares of Amazon.com which is valued at $12,371,865 after selling 1,309 shares in Amazon.com , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Amazon.com makes up approximately 1.64% of Sumitomo Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Bristol John W Co Inc Ny reduced its stake in AMZN by selling 36,653 shares or 20.57% in the most recent quarter. The Hedge Fund company now holds 141,555 shares of AMZN which is valued at $104,194,389. Amazon.com makes up approx 2.83% of Bristol John W Co Inc Ny’s portfolio.Trust Department Mb Financial Bank N A boosted its stake in AMZN in the latest quarter, The investment management firm added 69 additional shares and now holds a total of 14,241 shares of Amazon.com which is valued at $10,482,373. Amazon.com makes up approx 1.13% of Trust Department Mb Financial Bank N A’s portfolio.Appropriate Balance Financial Services reduced its stake in AMZN by selling 31 shares or 1.69% in the most recent quarter. The Hedge Fund company now holds 1,801 shares of AMZN which is valued at $1,337,477. Amazon.com makes up approx 0.86% of Appropriate Balance Financial Services’s portfolio.

Amazon.com opened for trading at $735.49 and hit $741.5954 on the upside on Monday, eventually ending the session at $736.07, with a gain of 0.09% or 0.63 points. The heightened volatility saw the trading volume jump to 29,54,914 shares. Company has a market cap of $347,298 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 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 .Company shares were Reiterated by SunTrust on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 775 from a previous price target of $710 .

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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