United Asset Strategies Lowers stake in Amazon.com (AMZN)

Amazon.com (AMZN) : United Asset Strategies reduced its stake in Amazon.com by 50.64% during the most recent quarter end. The investment management company now holds a total of 2,873 shares of Amazon.com which is valued at $2,168,081 after selling 2,948 shares in Amazon.com , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Amazon.com makes up approximately 0.78% of United Asset Strategies’s portfolio.

Other Hedge Funds, Including , Riverpark Capital Management boosted its stake in AMZN in the latest quarter, The investment management firm added 3,333 additional shares and now holds a total of 6,487 shares of Amazon.com which is valued at $4,895,350. Amazon.com makes up approx 2.22% of Riverpark Capital Management’s portfolio.Prospera Financial Services Inc reduced its stake in AMZN by selling 5,223 shares or 66.24% in the most recent quarter. The Hedge Fund company now holds 2,662 shares of AMZN which is valued at $1,961,016. Amazon.com makes up approx 0.40% of Prospera Financial Services Inc’s portfolio.Green Square Capital boosted its stake in AMZN in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 1,216 shares of Amazon.com which is valued at $895,791. Amazon.com makes up approx 0.22% of Green Square Capital’s portfolio.Telemus Capital boosted its stake in AMZN in the latest quarter, The investment management firm added 3,010 additional shares and now holds a total of 13,626 shares of Amazon.com which is valued at $10,161,181. Amazon.com makes up approx 1.17% of Telemus Capital’s portfolio.Marathon Asset Management Llp boosted its stake in AMZN in the latest quarter, The investment management firm added 323 additional shares and now holds a total of 17,838 shares of Amazon.com which is valued at $13,130,017. Amazon.com makes up approx 0.27% of Marathon Asset Management Llp’s portfolio.

Amazon.com opened for trading at $753.7 and hit $765 on the upside on Thursday, eventually ending the session at $760.77, with a gain of 0.81% or 6.13 points. The heightened volatility saw the trading volume jump to 31,78,208 shares. Company has a market cap of $360,661 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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