Palo Alto Wealth Advisors LLC Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Palo Alto Wealth Advisors LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 53.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,010 shares of the e-commerce giant’s stock after purchasing an additional 4,545 shares during the quarter. Amazon.com makes up approximately 1.0% of Palo Alto Wealth Advisors LLC’s holdings, making the stock its 13th biggest holding. Palo Alto Wealth Advisors LLC’s holdings in Amazon.com were worth $2,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Meridian Investment Counsel Inc. increased its position in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $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 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares in the last quarter. Cedar Point Capital Partners LLC grew its holdings 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 last quarter. Finally, Mason & Associates Inc raised its position in Amazon.com by 0.4% in the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Trading Up 1.8 %

Shares of AMZN opened at $229.05 on Thursday. The stock has a 50-day moving average price of $207.40 and a 200 day moving average price of $192.05. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a market capitalization of $2.41 trillion, a P/E ratio of 49.05, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMZN shares. JPMorgan Chase & Co. raised their price objective on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein increased their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Benchmark boosted their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

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.