Palouse Capital Management Inc. Grows Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Palouse Capital Management Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,986 shares of the e-commerce giant’s stock after acquiring an additional 1,632 shares during the quarter. Palouse Capital Management Inc.’s holdings in Amazon.com were worth $1,752,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMZN. Rench Wealth Management Inc. boosted 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 valued at $9,392,000 after purchasing an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake 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 purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC boosted its stake in shares of Amazon.com by 216.4% during 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 in the last quarter. Umpqua Bank boosted its stake in shares of Amazon.com by 0.4% during 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 in the last quarter. Finally, One Wealth Capital Management LLC bought a new stake in shares of Amazon.com during the 4th quarter valued at about $4,270,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now directly owns 49,950 shares in the company, valued at $10,864,125. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock worth $22,871,828 over the last three months. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Up 2.1 %

Shares of AMZN stock 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 stock has a market cap of $2.10 trillion, a P/E ratio of 35.80, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $221.65 and a two-hundred day simple moving average of $207.50.

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

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen lifted their target price 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. Maxim Group lifted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Finally, Benchmark boosted their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Two 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’s stock. Based on data from MarketBeat.com, the company currently has an average 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.