Wedgewood Investors Inc. PA Has $647,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Wedgewood Investors Inc. PA lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,950 shares of the e-commerce giant’s stock after selling 100 shares during the period. Wedgewood Investors Inc. PA’s holdings in Amazon.com were worth $647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rench Wealth Management Inc. grew its stake in Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Amazon.com by 9.7% during 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 buying an additional 16,392 shares during the last quarter. Blankinship & Foster LLC grew its stake in shares of 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 buying an additional 4,740 shares in the last quarter. Umpqua Bank raised its position in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $4,270,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares in the company, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,298 shares of company stock valued at $22,871,828. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $197.95 on Friday. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.10 trillion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The firm has a 50-day moving average price of $221.65 and a 200 day moving average price of $207.26.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Phillip Securities cut shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Rosenblatt Securities upped their price objective on shares of Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $270.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $260.65.

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.