Palisades Hudson Asset Management L.P. Acquires 1,074 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Palisades Hudson Asset Management L.P. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,768 shares of the e-commerce giant’s stock after purchasing an additional 1,074 shares during the quarter. Amazon.com makes up 1.0% of Palisades Hudson Asset Management L.P.’s investment portfolio, making the stock its 24th biggest holding. Palisades Hudson Asset Management L.P.’s holdings in Amazon.com were worth $2,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMZN. Meridian Investment Counsel Inc. raised its stake 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 valued at $594,000 after acquiring an additional 55 shares during the period. O Connor Financial Group LLC increased its stake 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 purchasing an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC raised 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 during the period. Cedar Point Capital Partners LLC lifted 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 buying an additional 56 shares in the last quarter. Finally, Mason & Associates Inc boosted its holdings in Amazon.com by 0.4% in the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after buying an additional 57 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.6 %

NASDAQ AMZN opened at $228.97 on Friday. The firm has a market cap of $2.41 trillion, a PE ratio of 49.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. Amazon.com, Inc. has a 1-year low of $144.05 and a 1-year high of $231.20. The stock has a 50-day moving average of $199.89 and a 200-day moving average of $189.07. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating 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 firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer raised their target price on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.98.

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.