Meridian Wealth Management LLC Buys New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Wealth Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 314,705 shares of the e-commerce giant’s stock, valued at approximately $58,639,000. Amazon.com comprises about 2.9% of Meridian Wealth Management LLC’s portfolio, making the stock its 6th biggest position.

Other hedge funds also recently made changes to their positions in the company. Semus Wealth Partners LLC lifted its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after acquiring an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. O Connor Financial Group LLC raised its position in Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its position in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC grew its holdings in shares of Amazon.com by 4.4% during the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

NASDAQ AMZN opened at $220.22 on Friday. The company has a fifty day moving average price of $211.67 and a 200-day moving average price of $193.59. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00.

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

Insider Activity at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of research reports. Evercore ISI raised their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research note on Tuesday, December 3rd. Sanford C. Bernstein raised their target price on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $243.00.

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.