Core Wealth Management Inc. Invests $225,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Core Wealth Management Inc. purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,250 shares of the e-commerce giant’s stock, valued at approximately $225,000. Amazon.com makes up about 0.1% of Core Wealth Management Inc.’s holdings, making the stock its 20th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherrydale Wealth Management LLC raised its stake in Amazon.com by 14.7% in the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after purchasing an additional 675 shares in the last quarter. Tompkins Financial Corp grew its position in Amazon.com by 3.3% during the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after acquiring an additional 2,273 shares during the last quarter. Nicholas Company Inc. grew its position in Amazon.com by 3.9% during the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after acquiring an additional 26,465 shares during the last quarter. Nordea Investment Management AB grew its position in Amazon.com by 5.4% during the fourth quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after acquiring an additional 277,631 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. bought a new position in Amazon.com during the fourth quarter valued at approximately $1,891,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMZN. Bank of America increased their price target on shares of Amazon.com from $185.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Roth Mkm reiterated a “buy” rating and set a $205.00 price target on shares of Amazon.com in a research report on Tuesday, April 16th. Mizuho increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their target price on shares of Amazon.com from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Buy” and an average price target of $205.13.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the sale, the insider now directly owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Down 3.3 %

Shares of AMZN traded down $5.96 during trading hours on Tuesday, hitting $175.00. The company had a trading volume of 93,825,266 shares, compared to its average volume of 43,548,449. The firm has a fifty day moving average price of $178.38 and a 200-day moving average price of $159.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 60.34, a P/E/G ratio of 1.55 and a beta of 1.17. Amazon.com, Inc. has a 52-week low of $101.15 and a 52-week high of $189.77.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion during the quarter, compared to the consensus estimate of $165.96 billion. During the same period last year, the company earned $0.21 EPS. Amazon.com’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com, Inc. will post 4.11 EPS for the current fiscal 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.