Cornerstone Wealth Advisors Inc. Has $296,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Advisors Inc. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,534 shares of the e-commerce giant’s stock after acquiring an additional 197 shares during the quarter. Cornerstone Wealth Advisors Inc.’s holdings in Amazon.com were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth about $17,700,551,000. Vanguard Group Inc. increased its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB acquired a new position in Amazon.com in the first quarter valued at approximately $2,239,757,000. Capital World Investors boosted its holdings in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Roth Mkm raised their target price on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group upped their price target on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BMO Capital Markets raised their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Securities upped their target price on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $221.69.

Amazon.com Stock Up 0.5 %

Amazon.com stock opened at $177.04 on Monday. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 1.32 and a beta of 1.15. The firm has a 50 day simple moving average of $183.78 and a 200 day simple moving average of $181.05. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current year.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 9,490 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.88, for a total value of $1,716,551.20. Following the transaction, the senior vice president now directly owns 64,610 shares of the company’s stock, valued at approximately $11,686,656.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,107,817 shares of company stock worth $1,221,241,837. 10.80% of the stock is owned by company 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.