SK Wealth Management LLC Acquires Shares of 6,131 Amazon.com, Inc. (NASDAQ:AMZN)

SK Wealth Management LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,131 shares of the e-commerce giant’s stock, valued at approximately $1,142,000. Amazon.com comprises 0.5% of SK Wealth Management LLC’s holdings, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the third quarter worth $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com in the 3rd quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares in the company, valued at $110,159,070. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Up 2.4 %

Shares of Amazon.com stock opened at $225.94 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $233.00. The company has a market capitalization of $2.38 trillion, a P/E ratio of 48.38, a PEG ratio of 1.22 and a beta of 1.14. The business’s fifty day moving average price is $217.91 and its two-hundred day moving average price is $196.30. 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 (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the business posted $0.85 EPS. The business’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 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMZN. Jefferies Financial Group lifted their price objective on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Maxim Group raised their target price on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush upped their target price on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, January 6th. 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. Finally, Rosenblatt Securities raised their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.65.

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.