Partners Wealth Management LLC Takes $1.61 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Partners Wealth Management LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 7,341 shares of the e-commerce giant’s stock, valued at approximately $1,610,000. Amazon.com accounts for 1.8% of Partners Wealth Management LLC’s portfolio, making the stock its 12th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Accordant Advisory Group Inc lifted its position in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Compass Planning Associates Inc acquired a new stake in Amazon.com during the fourth quarter worth about $51,000. Quattro Financial Advisors LLC raised its position in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Bull Oak Capital LLC acquired a new position in Amazon.com in the third quarter valued at approximately $45,000. Finally, Iron Horse Wealth Management LLC boosted its position in Amazon.com by 64.4% in the 4th quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock worth $63,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMZN. Robert W. Baird lifted their target price on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Scotiabank lifted their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. DA Davidson increased their target price on shares of Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. TD Cowen raised their target price on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $205.71 on Wednesday. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a fifty day simple moving average of $218.36 and a two-hundred day simple moving average of $208.86.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 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, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 8,833 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,298 shares of company stock valued at $22,871,828. 10.80% of the stock is currently owned by corporate insiders.

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.