Concorde Asset Management LLC Has $1.49 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Concorde Asset Management LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,976 shares of the e-commerce giant’s stock after buying an additional 605 shares during the period. Amazon.com comprises approximately 0.8% of Concorde Asset Management LLC’s portfolio, making the stock its 25th biggest position. Concorde Asset Management LLC’s holdings in Amazon.com were worth $1,486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc lifted its position 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 worth $13,466,933,000 after buying an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after acquiring an additional 1,980,663 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Amazon.com by 3.4% during 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 purchasing an additional 1,329,150 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Amazon.com by 20,897.2% in the third 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 purchasing an additional 38,949,065 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. Tigress Financial raised their price target on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Moffett Nathanson raised their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Oppenheimer boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wedbush raised their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research note on Tuesday, December 3rd. Two equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.00.

Amazon.com Stock Up 0.4 %

Shares of AMZN opened at $220.22 on Friday. 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 company has a 50-day moving average price of $211.67 and a two-hundred day moving average price of $193.59. The stock has a market cap of $2.32 trillion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping 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 the consensus estimate of $157.28 billion. During the same quarter last year, the company earned $0.85 EPS. Amazon.com’s revenue was up 11.0% on a year-over-year basis. Equities analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

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.