Cadence Wealth Management LLC Acquires 88 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cadence Wealth Management LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,285 shares of the e-commerce giant’s stock after buying an additional 88 shares during the period. Cadence Wealth Management LLC’s holdings in Amazon.com were worth $282,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMZN. BlackDiamond Wealth Management LLC raised its position in Amazon.com by 0.6% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 13,539 shares of the e-commerce giant’s stock worth $2,970,000 after acquiring an additional 76 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Amazon.com by 24.7% in the 4th quarter. Primecap Management Co. CA now owns 5,494,750 shares of the e-commerce giant’s stock valued at $1,205,493,000 after purchasing an additional 1,089,100 shares during the period. Axxcess Wealth Management LLC lifted its stake in Amazon.com by 1.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 265,371 shares of the e-commerce giant’s stock valued at $58,220,000 after purchasing an additional 2,684 shares during the last quarter. Argent Advisors Inc. increased its position in Amazon.com by 5.6% during the fourth quarter. Argent Advisors Inc. now owns 1,479 shares of the e-commerce giant’s stock worth $324,000 after buying an additional 78 shares during the last quarter. Finally, Aspen Wealth Strategies LLC boosted its stake in shares of Amazon.com by 1.3% during the 4th quarter. Aspen Wealth Strategies LLC now owns 7,047 shares of the e-commerce giant’s stock worth $1,546,000 after acquiring an additional 87 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMZN. Jefferies Financial Group cut their price target on Amazon.com from $275.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Stifel Nicolaus upped their price target on shares of Amazon.com from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Wolfe Research increased their target price on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group upped their price objective on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.73.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $10,933,860. The trade was a 22.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock worth $23,341,803 over the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.0 %

NASDAQ:AMZN opened at $172.51 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm’s 50 day simple moving average is $198.44 and its 200 day simple moving average is $207.88. The company has a market cap of $1.83 trillion, a PE ratio of 31.19, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

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.