Palacios Wealth Management LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Palacios Wealth Management LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,048 shares of the e-commerce giant's stock, valued at approximately $3,132,000. Amazon.com makes up 3.4% of Palacios Wealth Management LLC's holdings, making the stock its 5th largest position.

Other hedge funds have also recently modified their holdings of the company. Accordant Advisory Group Inc grew its holdings in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the 3rd quarter valued at about $45,000. Quattro Financial Advisors LLC grew its stake in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after buying an additional 45 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the third quarter worth approximately $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 19,212 shares of the business's stock in a transaction dated 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 owns 49,950 shares of the company's stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 497,067 shares in the company, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock valued at $22,871,828 over the last three months. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMZN. BMO Capital Markets reissued an "outperform" rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Canaccord Genuity Group reiterated a "buy" rating on shares of Amazon.com in a research report on Thursday, February 13th. Mizuho raised 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. TD Cowen lifted their price objective 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. Finally, Oppenheimer increased their target price on shares of Amazon.com from $230.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $260.65.

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Amazon.com Stock Performance

Shares of AMZN opened at $198.89 on Thursday. 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 $2.11 trillion, a P/E ratio of 35.97, a PEG 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 moving average of $222.71 and a two-hundred day moving average of $207.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.

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