Amazon.com, Inc. (NASDAQ:AMZN) Position Cut by Cornerstone Advisory LLC

Cornerstone Advisory LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,028 shares of the e-commerce giant’s stock after selling 6,323 shares during the period. Amazon.com accounts for about 2.3% of Cornerstone Advisory LLC’s portfolio, making the stock its 8th biggest position. Cornerstone Advisory LLC’s holdings in Amazon.com were worth $10,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Planning LLC boosted its position in Amazon.com by 1.5% during the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock valued at $1,138,000 after acquiring an additional 5 shares in the last quarter. HBC Financial Services PLLC boosted its position in Amazon.com by 0.8% during the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock valued at $1,717,000 after acquiring an additional 5 shares in the last quarter. Meridian Investment Counsel Inc. boosted its position in shares of Amazon.com by 3.4% in the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after purchasing an additional 5 shares in the last quarter. Alterna Wealth Management Inc. boosted its position in shares of Amazon.com by 1.8% in the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after purchasing an additional 5 shares in the last quarter. Finally, Archetype Wealth Partners boosted its position in shares of Amazon.com by 3.7% in the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after purchasing an additional 6 shares in the last quarter. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 3.8 %

Shares of Amazon.com stock opened at $97.25 on Friday. The stock has a market cap of $992.11 billion, a P/E ratio of 89.26, a P/E/G ratio of 3.09 and a beta of 1.22. The stock’s 50 day simple moving average is $90.72 and its 200-day simple moving average is $110.28. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last issued its earnings results on Thursday, October 27th. The e-commerce giant reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $127.10 billion for the quarter, compared to analyst estimates of $127.47 billion. Amazon.com had a return on equity of 14.44% and a net margin of 2.25%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Analysts predict that Amazon.com, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity

In other news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, November 21st. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, November 21st. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 345 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares in the company, valued at approximately $11,505,090. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,428 shares of company stock valued at $5,077,578. 12.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMZN shares. Credit Suisse Group lowered their price objective on Amazon.com from $159.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Evercore ISI lowered their price objective on Amazon.com from $170.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, December 19th. New Street Research started coverage on Amazon.com in a research report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price objective for the company. Moffett Nathanson started coverage on Amazon.com in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $118.00 price objective for the company. Finally, MKM Partners reduced their target price on Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.87.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North American-focused websites such as www.amazon.com and www.amazon.ca.

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

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