Costello Asset Management INC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Costello Asset Management INC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,080 shares of the e-commerce giant's stock after purchasing an additional 3,080 shares during the period. Amazon.com comprises about 4.7% of Costello Asset Management INC's investment portfolio, making the stock its 3rd biggest holding. Costello Asset Management INC's holdings in Amazon.com were worth $7,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMZN. PayPay Securities Corp boosted its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the 3rd quarter valued at $45,000. Christopher J. Hasenberg Inc increased its position in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant's stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the third quarter valued at about $56,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Redburn Atlantic raised their target price on Amazon.com from $225.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday. Wedbush raised their target price on shares of Amazon.com from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their target price on Amazon.com from $235.00 to $275.00 and gave the stock a "buy" rating in a report on Monday. Finally, Mizuho increased their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $243.00.

Amazon.com Stock Up 0.7 %

AMZN traded up $1.63 during midday trading on Friday, hitting $224.92. The company had a trading volume of 87,060,734 shares, compared to its average volume of 41,415,395. The stock's 50 day moving average price is $205.83 and its 200 day moving average price is $191.30. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company's stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 over the last ninety days. 10.80% of the stock is owned by company insiders.

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.