Cabot Wealth Management Inc. Has $1.03 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cabot Wealth Management Inc. lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,697 shares of the e-commerce giant’s stock after selling 199 shares during the period. Cabot Wealth Management Inc.’s holdings in Amazon.com were worth $1,030,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMZN. Rench Wealth Management Inc. grew its holdings in shares of 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 last quarter. Blankinship & Foster LLC increased 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 during the period. Umpqua Bank raised its position 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 acquiring an additional 137 shares during the last quarter. One Wealth Capital Management LLC acquired a new position in shares of Amazon.com during the fourth quarter valued at $4,270,000. Finally, Floyd Financial Group LLC bought a new position in Amazon.com in the fourth quarter valued at about $4,494,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. 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 report on Friday, February 7th. Wolfe Research increased their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research note on Tuesday, December 3rd. Finally, Robert W. Baird increased their target price on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Two 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 company. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Stock Up 3.6 %

AMZN stock opened at $203.26 on Tuesday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The business’s 50 day simple moving average is $218.60 and its 200 day simple moving average is $208.62. 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 firm has a market capitalization of $2.15 trillion, a PE ratio of 36.76, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its quarterly 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 net margin of 9.29% and a return on equity of 24.25%. As a group, research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 19,212 shares of the business’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 transaction of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,298 shares of company stock worth $22,871,828 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Company 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.