Cornerstone Wealth Group LLC Buys 3,365 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Group LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,808 shares of the e-commerce giant’s stock after purchasing an additional 3,365 shares during the period. Amazon.com makes up 1.3% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 14th biggest position. Cornerstone Wealth Group LLC’s holdings in Amazon.com were worth $14,843,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in shares of Amazon.com by 291.8% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock worth $4,406,000 after buying an additional 21,595 shares in the last quarter. Milestone Resources Group Ltd increased its holdings in shares of Amazon.com by 13.2% in the fourth quarter. Milestone Resources Group Ltd now owns 893,282 shares of the e-commerce giant’s stock valued at $135,725,000 after purchasing an additional 104,058 shares in the last quarter. Morling Financial Advisors LLC increased its holdings in shares of Amazon.com by 2.4% in the fourth quarter. Morling Financial Advisors LLC now owns 6,878 shares of the e-commerce giant’s stock valued at $1,045,000 after purchasing an additional 160 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $3,436,000. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of Amazon.com by 3.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 696,968 shares of the e-commerce giant’s stock valued at $105,897,000 after purchasing an additional 20,488 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $187.00 on Friday. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.38, a PEG ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a 50-day simple moving average of $179.78 and a 200 day simple moving average of $181.48. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, sell-side analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Rosenblatt Securities raised their price objective on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday. Finally, BMO Capital Markets lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $222.49.

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.