Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,240 shares of the e-commerce giant’s stock after buying an additional 832 shares during the quarter. Amazon.com comprises 1.1% of Cornerstone Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Cornerstone Wealth Management LLC’s holdings in Amazon.com were worth $16,408,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Amazon.com in the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC increased its position in shares of Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after buying an additional 30,104,520 shares in the last quarter. Capital World Investors increased its position in shares of Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after buying an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 224,926 shares of Amazon.com stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $223.56, for a total transaction of $50,284,456.56. Following the sale, the insider directly owned 905,454,975 shares in the company, valued at $202,423,514,211. The trade was a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total value of $3,577,867.50. Following the sale, the chief financial officer owned 49,000 shares in the company, valued at $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,426,963 shares of company stock worth $757,297,707 over the last ninety days. Company insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $223.13 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock’s 50 day moving average is $206.44 and its two-hundred day moving average is $208.62. The company has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a P/E/G ratio of 1.68 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the business earned $0.98 EPS. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup restated a “buy” rating on shares of Amazon.com in a research report on Monday, June 2nd. Benchmark reiterated a “buy” rating and set a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Morgan Stanley dropped their price objective on Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Oppenheimer lifted their price objective on Amazon.com from $215.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Finally, BNP Paribas upgraded Amazon.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.60.

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.