Centricity Wealth Management LLC Takes Position in Amazon.com, Inc. (NASDAQ:AMZN)

Centricity Wealth Management LLC purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, Holdings Channel reports. The fund purchased 6,355 shares of the e-commerce giant’s stock, valued at approximately $1,394,000. Amazon.com accounts for approximately 1.3% of Centricity Wealth Management LLC’s investment portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rench Wealth Management Inc. raised its holdings in shares of Amazon.com by 7.9% during 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 purchasing an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC grew its stake 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 last quarter. Blankinship & Foster LLC grew its stake 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 last quarter. Umpqua Bank grew its stake 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 last quarter. Finally, One Wealth Capital Management LLC acquired a new position in Amazon.com in the 4th quarter valued at $4,270,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 0.6 %

Shares of NASDAQ AMZN opened at $196.21 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market cap of $2.08 trillion, a PE ratio of 35.48, a P/E/G 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 $218.90 and a two-hundred day moving average of $207.97.

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

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,501 shares of Amazon.com stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % 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. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMZN. Citigroup reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Phillip Securities lowered shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 10th. Maxim Group raised their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their price target on shares of Amazon.com from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Mizuho raised their price target 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 analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $260.65.

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.