Client 1ST Advisory Group LLC Buys New Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Client 1ST Advisory Group LLC acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,628 shares of the e-commerce giant’s stock, valued at approximately $1,674,000. Amazon.com makes up about 0.6% of Client 1ST Advisory Group LLC’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds have also bought and sold shares of the company. Rench Wealth Management Inc. raised its stake in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares during the period. Foundations Investment Advisors LLC raised its stake in 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 purchasing an additional 16,392 shares during the last quarter. Blankinship & Foster LLC raised its stake in Amazon.com by 216.4% in the 3rd 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 raised its stake in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares during the last quarter. Finally, One Wealth Capital Management LLC acquired a new position in Amazon.com in the 4th quarter valued at $4,270,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Morgan Stanley increased their price objective on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and issued a $280.00 target price (up from $260.00) on shares of Amazon.com in a research note on Monday, January 27th. Finally, Redburn Atlantic raised their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.44.

Amazon.com Stock Performance

Shares of AMZN stock opened at $237.42 on Tuesday. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 50.84, a P/E/G ratio of 1.35 and a beta of 1.15. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $241.77. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $223.83 and its 200-day simple moving average is $198.98.

Insider Activity at Amazon.com

In related news, 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 transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % 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, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,027,340 shares of company stock valued at $1,252,456,773. Insiders own 10.80% of the company’s stock.

Amazon.com 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.