Amazon.com, Inc. (NASDAQ:AMZN) Position Boosted by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,807 shares of the e-commerce giant’s stock after buying an additional 2,380 shares during the quarter. Amazon.com comprises 2.6% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position. Palumbo Wealth Management LLC’s holdings in Amazon.com were worth $6,978,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Accordant Advisory Group Inc grew its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the 3rd quarter worth approximately $45,000. Quattro Financial Advisors LLC raised its stake in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com during the 3rd quarter valued at $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the transaction, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,298 shares of company stock valued at $22,871,828. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Redburn Atlantic boosted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, HSBC boosted their price objective on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $260.65.

Amazon.com Price Performance

AMZN opened at $197.95 on Friday. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 35.80, a PEG ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $221.65 and a 200 day moving average price of $207.50.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

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.