Concentric Wealth Management LLC Has $2.29 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Concentric Wealth Management LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,266 shares of the e-commerce giant’s stock after acquiring an additional 402 shares during the quarter. Concentric Wealth Management LLC’s holdings in Amazon.com were worth $2,286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC boosted its stake in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the third quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter valued at about $56,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMZN shares. Loop Capital raised their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Moffett Nathanson boosted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Mizuho boosted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, Wedbush boosted their price target on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.44.

Amazon.com Trading Up 1.8 %

NASDAQ:AMZN opened at $224.19 on Monday. 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 business’s 50 day moving average is $213.07 and its two-hundred day moving average is $194.21. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The company has a market cap of $2.36 trillion, a PE ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16.

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

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. 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.