Pinnacle Wealth Management Group Inc. Purchases 250 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Wealth Management Group Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,011 shares of the e-commerce giant’s stock after acquiring an additional 250 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Amazon.com were worth $1,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMZN. State Street Corp grew its stake in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Legal & General Group Plc increased its holdings in Amazon.com by 1.5% during the second 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after buying an additional 1,984,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 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. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMZN. Piper Sandler boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wedbush boosted their price target on Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research report on Tuesday, December 3rd. Stifel Nicolaus boosted their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Maxim Group raised their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $249.02.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’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 value of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at approximately $110,159,070. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 0.2 %

Shares of NASDAQ AMZN opened at $234.85 on Friday. The stock has a 50-day moving average price of $219.63 and a two-hundred day moving average price of $197.22. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $236.40. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.47 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Amazon.com, Inc. will post 5.39 earnings per share 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.