Biltmore Wealth Management LLC Has $1.23 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Biltmore Wealth Management LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,607 shares of the e-commerce giant’s stock after acquiring an additional 112 shares during the period. Amazon.com accounts for 0.5% of Biltmore Wealth Management LLC’s holdings, making the stock its 21st largest position. Biltmore Wealth Management LLC’s holdings in Amazon.com were worth $1,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Rench Wealth Management Inc. lifted its position in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Blankinship & Foster LLC raised its position in Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares during the last quarter. Umpqua Bank lifted its holdings in shares of Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. Finally, One Wealth Capital Management LLC bought a new position in shares of Amazon.com during the fourth quarter worth about $4,270,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. Wolfe Research boosted their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wedbush boosted their target price on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. TD Cowen boosted their price target 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. Royal Bank of Canada raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.02.

Insider Buying and Selling at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $234.85 on Friday. The firm has a market capitalization of $2.47 trillion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. 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, Inc. has a 12 month low of $151.61 and a 12 month high of $236.40. The business’s 50-day moving average price is $220.27 and its 200-day moving average price is $197.47.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 5.39 EPS for the current fiscal year.

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.