King Wealth Management Group Has $8.84 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

King Wealth Management Group boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,466 shares of the e-commerce giant’s stock after acquiring an additional 5,713 shares during the quarter. Amazon.com accounts for 1.4% of King Wealth Management Group’s portfolio, making the stock its 21st largest position. King Wealth Management Group’s holdings in Amazon.com were worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after acquiring an additional 1,329,150 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Amazon.com by 1.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after purchasing an additional 464,938 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird increased their price target on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Susquehanna raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Oppenheimer boosted their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI increased their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.00.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the sale, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $229.05 on Thursday. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $207.40 and its 200 day simple moving average is $192.05. The firm has a market capitalization of $2.41 trillion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

About Amazon.com

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.