Cornerstone Wealth Group LLC Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Group LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,186 shares of the e-commerce giant’s stock after acquiring an additional 1,947 shares during the quarter. Amazon.com makes up approximately 1.4% of Cornerstone Wealth Group LLC’s holdings, making the stock its 13th largest position. Cornerstone Wealth Group LLC’s holdings in Amazon.com were worth $17,592,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC grew its holdings in Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. State Street Corp increased its stake in shares of Amazon.com by 3.3% during 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 lifted its holdings in shares of Amazon.com by 3.4% during 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 purchasing an additional 6,545,944 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Amazon.com in the 3rd quarter worth approximately $492,144,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Susquehanna upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Benchmark raised their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley upped their target price on shares of Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, DA Davidson raised their price target on shares of Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Price Performance

AMZN stock opened at $228.68 on Friday. The company has a market capitalization of $2.40 trillion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The company’s fifty day moving average price is $228.21 and its 200-day moving average price is $202.30. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. On average, equities analysts anticipate that Amazon.com, Inc. will post 6.24 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,848 shares of company stock valued at $11,368,639. Insiders own 10.80% of the company’s stock.

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.