Concord Wealth Partners Buys 3,979 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Concord Wealth Partners boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,354 shares of the e-commerce giant’s stock after purchasing an additional 3,979 shares during the period. Amazon.com comprises 1.7% of Concord Wealth Partners’ holdings, making the stock its 14th largest position. Concord Wealth Partners’ holdings in Amazon.com were worth $10,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rench Wealth Management Inc. grew 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 acquiring an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Amazon.com by 9.7% in the third 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 increased 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 buying an additional 4,740 shares during the last quarter. Umpqua Bank increased 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 buying an additional 137 shares during the last quarter. Finally, One Wealth Capital Management LLC bought a new stake in Amazon.com during the 4th quarter worth about $4,270,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 5,501 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,852 shares of company stock worth $9,324,151 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company dropped their price objective on Amazon.com from $212.00 to $207.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Stock Down 2.8 %

Shares of NASDAQ:AMZN opened at $216.58 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market capitalization of $2.30 trillion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. 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 company has a fifty day moving average of $227.88 and a 200-day moving average of $204.26.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS 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%. On average, equities 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.