Costello Asset Management INC Has $7.10 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Costello Asset Management INC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.8% during the third quarter, Holdings Channel.com reports. The firm owned 38,080 shares of the e-commerce giant’s stock after acquiring an additional 3,080 shares during the period. Amazon.com accounts for about 4.7% of Costello Asset Management INC’s portfolio, making the stock its 3rd biggest position. Costello Asset Management INC’s holdings in Amazon.com were worth $7,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Investment Counsel Inc. boosted its holdings in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the period. O Connor Financial Group LLC boosted its holdings in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC grew its position in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares in the last quarter. Cedar Point Capital Partners LLC raised its stake in shares of Amazon.com by 4.4% during the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after purchasing an additional 56 shares during the period. Finally, Mason & Associates Inc lifted its holdings in Amazon.com by 0.4% during the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after purchasing an additional 57 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $223.29 on Friday. The company’s fifty day simple moving average is $205.11 and its two-hundred day simple moving average is $190.98. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The firm has a market cap of $2.35 trillion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AMZN. Robert W. Baird lifted their target price on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wedbush raised their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Scotiabank lifted their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.00.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.