Amazon.com, Inc. (NASDAQ:AMZN) Holdings Increased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,570 shares of the e-commerce giant's stock after purchasing an additional 3,763 shares during the quarter. Amazon.com comprises 2.3% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 8th biggest position. Palumbo Wealth Management LLC's holdings in Amazon.com were worth $6,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com during the 4th quarter valued at $27,000. LSV Asset Management bought a new position in shares of Amazon.com during the 4th quarter valued at $35,000. Perritt Capital Management Inc grew its holdings in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Inlight Wealth Management LLC bought a new position in shares of Amazon.com during the 1st quarter valued at $40,000. Finally, Compass Planning Associates Inc bought a new position in shares of Amazon.com during the 4th quarter valued at $51,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 384,124 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $224.02, for a total value of $86,051,458.48. Following the completion of the sale, the insider directly owned 901,995,325 shares of the company's stock, valued at $202,064,992,706.50. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 13,570 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the sale, the senior vice president directly owned 47,030 shares of the company's stock, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,886,613 shares of company stock valued at $1,531,840,610 in the last ninety days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Up 1.2%

Shares of AMZN opened at $225.02 on Monday. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 36.65, a P/E/G ratio of 1.69 and a beta of 1.33. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $209.90 and a 200-day moving average price of $208.36.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities 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 subject of several analyst reports. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the company a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. Stifel Nicolaus dropped their target price on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Benchmark reaffirmed a "buy" rating and issued a $260.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Evercore ISI dropped their target price on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $249.42.

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.

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