Amazon.com, Inc. (NASDAQ:AMZN) is Spire Wealth Management’s 5th Largest Position

Spire Wealth Management raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 373,585 shares of the e-commerce giant’s stock after acquiring an additional 19,926 shares during the quarter. Amazon.com comprises approximately 2.5% of Spire Wealth Management’s investment portfolio, making the stock its 5th largest holding. Spire Wealth Management’s holdings in Amazon.com were worth $81,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rench Wealth Management Inc. boosted its position in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares during the period. Foundations Investment Advisors LLC boosted its position in Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after buying an additional 16,392 shares during the period. Blankinship & Foster LLC boosted its position 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 period. Umpqua Bank boosted its position 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 period. Finally, One Wealth Capital Management LLC purchased a new position in Amazon.com in the 4th quarter valued at approximately $4,270,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Mizuho lifted 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $270.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Finally, Bank of America lifted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.74.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were 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 owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated 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 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. Over the last 90 days, insiders have sold 40,852 shares of company stock valued at $9,324,151. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 1.8 %

Shares of Amazon.com stock opened at $212.71 on Tuesday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company’s 50-day simple moving average is $227.48 and its 200-day simple moving average is $204.88. The firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 38.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.