Rench Wealth Management Inc. Acquires 3,703 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Rench Wealth Management Inc. lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,403 shares of the e-commerce giant’s stock after acquiring an additional 3,703 shares during the quarter. Amazon.com comprises approximately 3.2% of Rench Wealth Management Inc.’s holdings, making the stock its 8th biggest holding. Rench Wealth Management Inc.’s holdings in Amazon.com were worth $9,392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. Legal & General Group Plc increased its position in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after buying an additional 1,984,592 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after buying an additional 1,980,663 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Amazon.com by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock valued at $8,320,300,000 after buying an additional 873,174 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMZN shares. Mizuho boosted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a research report on Wednesday, November 20th. Wedbush upped their price target on shares of Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Price Performance

NASDAQ AMZN opened at $218.94 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $216.20 and a 200 day simple moving average of $195.41. The company has a market cap of $2.30 trillion, a P/E ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $149.91 and a 1 year high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety days. Company insiders own 10.80% of the company’s stock.

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.