Amazon.com, Inc. (NASDAQ:AMZN) is Palumbo Wealth Management LLC’s 7th Largest Position

Palumbo Wealth Management LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,807 shares of the e-commerce giant’s stock after purchasing an additional 2,380 shares during the quarter. Amazon.com makes up approximately 2.6% of Palumbo Wealth Management LLC’s portfolio, making the stock its 7th biggest position. Palumbo Wealth Management LLC’s holdings in Amazon.com were worth $6,978,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. bLong Financial LLC purchased a new stake in Amazon.com during the fourth quarter worth approximately $691,000. Everhart Financial Group Inc. lifted its stake in Amazon.com by 13.4% during the fourth quarter. Everhart Financial Group Inc. now owns 53,057 shares of the e-commerce giant’s stock worth $11,640,000 after purchasing an additional 6,250 shares during the last quarter. Lakeridge Wealth Management LLC lifted its stake in Amazon.com by 0.7% during the fourth quarter. Lakeridge Wealth Management LLC now owns 10,975 shares of the e-commerce giant’s stock worth $2,408,000 after purchasing an additional 73 shares during the last quarter. Ellis Investment Partners LLC lifted its stake in Amazon.com by 3.8% during the fourth quarter. Ellis Investment Partners LLC now owns 15,071 shares of the e-commerce giant’s stock worth $3,306,000 after purchasing an additional 550 shares during the last quarter. Finally, Next Level Wealth Planning LLC purchased a new stake in Amazon.com during the fourth quarter worth approximately $831,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares in the company, valued at approximately $115,434,843.92. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,298 shares of company stock valued at $22,871,828. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Jefferies Financial Group boosted their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Canaccord Genuity Group reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. UBS Group boosted their price objective on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Raymond James boosted their price objective on Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Stock Up 2.1 %

Amazon.com stock opened at $197.95 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock’s fifty day moving average is $221.65 and its two-hundred day moving average is $207.50.

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

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.