Palouse Capital Management Inc. Acquires 1,632 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Palouse Capital Management Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,986 shares of the e-commerce giant’s stock after purchasing an additional 1,632 shares during the quarter. Palouse Capital Management Inc.’s holdings in Amazon.com were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AMZN. AMF Tjanstepension AB raised its stake in shares of Amazon.com by 44.3% in the third quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant’s stock valued at $492,172,000 after acquiring an additional 811,425 shares during the period. Swedbank AB raised its stake in shares of Amazon.com by 1.4% in the third quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock valued at $2,484,864,000 after acquiring an additional 183,610 shares during the period. LaFleur & Godfrey LLC raised its stake in shares of Amazon.com by 38.8% in the third quarter. LaFleur & Godfrey LLC now owns 48,547 shares of the e-commerce giant’s stock valued at $9,046,000 after acquiring an additional 13,560 shares during the period. Indiana Trust & Investment Management Co raised its stake in shares of Amazon.com by 15.2% in the third quarter. Indiana Trust & Investment Management Co now owns 42,401 shares of the e-commerce giant’s stock valued at $7,901,000 after acquiring an additional 5,600 shares during the period. Finally, Amplius Wealth Advisors LLC raised its stake in shares of Amazon.com by 0.9% in the third quarter. Amplius Wealth Advisors LLC now owns 14,550 shares of the e-commerce giant’s stock valued at $2,711,000 after acquiring an additional 132 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMZN. TD Cowen raised their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. UBS Group raised their price target on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wolfe Research lifted their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wedbush reiterated an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Finally, Scotiabank increased their price target on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $260.65.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the transaction, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $197.95 on Friday. The company has a market cap of $2.10 trillion, a P/E ratio of 35.80, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock has a 50-day moving average of $221.65 and a two-hundred day moving average of $207.50. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

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 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, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS 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.