Meridian Wealth Partners LLC Buys 977 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Wealth Partners LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 12.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,535 shares of the e-commerce giant’s stock after acquiring an additional 977 shares during the period. Meridian Wealth Partners LLC’s holdings in Amazon.com were worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after buying an additional 12,456,995 shares during the last quarter. State Street Corp increased its position in shares of Amazon.com by 1.0% during the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC increased its position in shares of Amazon.com by 1,792.4% during the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Amazon.com by 2.3% during the first quarter. Geode Capital Management LLC now owns 165,309,180 shares of the e-commerce giant’s stock valued at $17,031,683,000 after purchasing an additional 3,774,390 shares during the period. 57.96% of the stock is owned by institutional investors.

Amazon.com Stock Down 1.0 %

Shares of Amazon.com stock opened at $140.60 on Friday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $145.86. The business has a 50-day moving average of $132.96 and a two-hundred day moving average of $127.79. The company has a market capitalization of $1.45 trillion, a P/E ratio of 72.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.74.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research reports. Canaccord Genuity Group boosted their price objective on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Stifel Nicolaus began coverage on Amazon.com in a research report on Tuesday, October 17th. They issued a “buy” rating and a $173.00 price target on the stock. Loop Capital upped their price target on Amazon.com from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. BNP Paribas upgraded Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 price target on the stock in a research report on Friday, August 4th. Finally, Telsey Advisory Group upped their price target on Amazon.com from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $168.80.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 70,056 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $139.86, for a total value of $9,798,032.16. Following the completion of the sale, the chief executive officer now directly owns 104,864 shares in the company, valued at $14,666,279.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Adam Selipsky sold 70,056 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $139.86, for a total transaction of $9,798,032.16. Following the completion of the transaction, the chief executive officer now directly owns 104,864 shares in the company, valued at $14,666,279.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 21,933 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.92, for a total value of $2,937,267.36. Following the transaction, the chief executive officer now owns 2,030,868 shares of the company’s stock, valued at $271,973,842.56. The disclosure for this sale can be found here. Insiders sold 182,145 shares of company stock worth $25,278,008 over the last ninety days. 12.30% of the stock is currently owned by corporate insiders.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.