Cornerstone Wealth Advisors Inc. Sells 59 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Advisors Inc. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,475 shares of the e-commerce giant’s stock after selling 59 shares during the quarter. Cornerstone Wealth Advisors Inc.’s holdings in Amazon.com were worth $275,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Swedbank AB bought a new stake in shares of Amazon.com during the 1st quarter worth $2,239,757,000. Capital World Investors lifted its position in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after buying an additional 3,903,889 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMZN shares. Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wedbush raised their target price on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Finally, Oppenheimer increased their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.20.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 1.3 %

AMZN opened at $213.44 on Wednesday. Amazon.com, Inc. has a 12 month low of $142.81 and a 12 month high of $215.90. The stock has a 50-day moving average of $195.51 and a 200 day moving average of $187.34. The firm has a market cap of $2.24 trillion, a P/E ratio of 45.70, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Amazon.com Company 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.