Sculati Wealth Management LLC Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sculati Wealth Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,930 shares of the e-commerce giant’s stock after purchasing an additional 124 shares during the quarter. Amazon.com comprises about 2.8% of Sculati Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Sculati Wealth Management LLC’s holdings in Amazon.com were worth $6,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rench Wealth Management Inc. raised its holdings in Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC increased its position in shares of 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 in the last quarter. Umpqua Bank raised its stake in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the period. Washington Trust Advisors Inc. lifted its holdings in Amazon.com by 0.4% during the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after acquiring an additional 982 shares in the last quarter. Finally, First Dallas Securities Inc. increased its holdings in shares of Amazon.com by 12.5% in the third quarter. First Dallas Securities Inc. now owns 28,238 shares of the e-commerce giant’s stock worth $5,262,000 after acquiring an additional 3,140 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMZN shares. Morgan Stanley lifted their price objective on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday. Moffett Nathanson upped their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets restated an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Mizuho upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.65.

Amazon.com Trading Down 1.2 %

Shares of AMZN stock opened at $220.66 on Friday. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a market capitalization of $2.32 trillion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. The firm has a 50 day moving average price of $217.35 and a two-hundred day moving average price of $195.93. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict that Amazon.com, Inc. will post 5.38 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

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.