Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,604.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 72,751 shares of the e-commerce giant’s stock after purchasing an additional 70,061 shares during the quarter. Amazon.com makes up 0.9% of Cornerstone Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Cornerstone Wealth Management LLC’s holdings in Amazon.com were worth $7,727,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMZN. Sage Financial Management Group Inc. lifted its stake in shares of Amazon.com by 6.5% in the 1st quarter. Sage Financial Management Group Inc. now owns 66 shares of the e-commerce giant’s stock worth $215,000 after acquiring an additional 4 shares during the period. BlackDiamond Wealth Management Inc. lifted its stake in shares of Amazon.com by 1.9% in the 1st quarter. BlackDiamond Wealth Management Inc. now owns 217 shares of the e-commerce giant’s stock worth $707,000 after acquiring an additional 4 shares during the period. BCGM Wealth Management LLC lifted its stake in Amazon.com by 3.0% during the first quarter. BCGM Wealth Management LLC now owns 172 shares of the e-commerce giant’s stock valued at $428,000 after purchasing an additional 5 shares during the last quarter. Aspire Wealth Management Corp lifted its stake in Amazon.com by 2.4% during the first quarter. Aspire Wealth Management Corp now owns 216 shares of the e-commerce giant’s stock valued at $704,000 after purchasing an additional 5 shares during the last quarter. Finally, Lakeside Advisors INC. lifted its stake in Amazon.com by 7.5% during the first quarter. Lakeside Advisors INC. now owns 72 shares of the e-commerce giant’s stock valued at $235,000 after purchasing an additional 5 shares during the last quarter. Institutional investors own 57.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 520 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the sale, the chief executive officer now owns 115,680 shares in the company, valued at approximately $14,741,102.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Adam Selipsky sold 520 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the sale, the chief executive officer now owns 115,680 shares in the company, valued at approximately $14,741,102.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $94.00, for a total transaction of $329,000.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,259,320. The disclosure for this sale can be found here. Insiders sold 303,988 shares of company stock worth $11,164,283 in the last quarter. 12.70% of the stock is owned by corporate insiders.

Amazon.com Trading Up 1.0 %

Shares of AMZN stock opened at $94.13 on Thursday. Amazon.com, Inc. has a 52-week low of $85.87 and a 52-week high of $181.68. The stock has a market cap of $960.28 billion, a price-to-earnings ratio of 86.40, a P/E/G ratio of 6.18 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.94. The firm has a fifty day moving average of $109.13 and a 200-day moving average of $116.76.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $127.10 billion during the quarter, compared to analysts’ expectations of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on AMZN. Rosenblatt Securities cut their target price on shares of Amazon.com from $118.00 to $103.00 and set a “neutral” rating for the company in a research note on Monday, November 14th. Benchmark cut their price target on shares of Amazon.com from $160.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Credit Suisse Group cut their price target on shares of Amazon.com from $159.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Canaccord Genuity Group upped their price objective on shares of Amazon.com from $185.00 to $200.00 in a research note on Friday, July 29th. Finally, DA Davidson dropped their price objective on shares of Amazon.com from $151.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.40.

Amazon.com Company Profile

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

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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