Kingsview Wealth Management LLC Has $108.74 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kingsview Wealth Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,631 shares of the e-commerce giant’s stock after purchasing an additional 18,557 shares during the period. Amazon.com makes up approximately 2.1% of Kingsview Wealth Management LLC’s holdings, making the stock its 7th biggest position. Kingsview Wealth Management LLC’s holdings in Amazon.com were worth $108,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rench Wealth Management Inc. grew its holdings in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares during the last quarter. Blankinship & Foster LLC grew its stake in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after acquiring an additional 4,740 shares in the last quarter. Umpqua Bank lifted its position in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. Finally, One Wealth Capital Management LLC bought a new stake in Amazon.com during the fourth quarter worth about $4,270,000. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMZN. TD Cowen raised their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Mizuho lifted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. DA Davidson lifted their target price on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Roth Mkm boosted their price objective on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Wolfe Research increased their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.65.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,649 shares of company stock worth $23,871,905 in the last 90 days. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Up 2.2 %

AMZN opened at $208.36 on Thursday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The business has a 50-day moving average of $225.12 and a 200-day moving average of $206.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market capitalization of $2.21 trillion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com 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.