Cornerstone Wealth Group LLC Acquires 988 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Group LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,174 shares of the e-commerce giant’s stock after purchasing an additional 988 shares during the quarter. Amazon.com comprises approximately 1.3% of Cornerstone Wealth Group LLC’s holdings, making the stock its 14th largest position. Cornerstone Wealth Group LLC’s holdings in Amazon.com were worth $15,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Tallon Kerry Patrick bought a new position in Amazon.com during the fourth quarter valued at about $800,000. Capital & Planning LLC lifted its position in shares of Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock worth $856,000 after acquiring an additional 1,635 shares during the period. LaFleur & Godfrey LLC grew its holdings in shares of Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock worth $10,839,000 after purchasing an additional 860 shares in the last quarter. Brighton Jones LLC increased its position in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after purchasing an additional 397,007 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Amazon.com in the fourth quarter valued at $301,650,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $226.35 on Wednesday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The business’s 50-day moving average price is $211.52 and its two-hundred day moving average price is $208.50. The firm has a market cap of $2.40 trillion, a PE ratio of 36.86, a P/E/G ratio of 1.69 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same period in the prior 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. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,442,187 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $225.89, for a total transaction of $551,665,621.43. Following the completion of the transaction, the insider owned 895,279,901 shares in the company, valued at approximately $202,234,776,836.89. This represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,602,037 shares of company stock worth $3,044,172,641. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of several analyst reports. DA Davidson lowered their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays dropped their target price on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Evercore ISI cut their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Jefferies Financial Group dropped their target price on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.42.

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.