Summit Wealth & Retirement Planning Inc. Has $693,000 Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Wealth & Retirement Planning Inc. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,157 shares of the e-commerce giant’s stock after acquiring an additional 200 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Amazon.com were worth $693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $37,116,341,000 after purchasing an additional 6,545,944 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amazon.com by 3.6% in 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 valued at $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 1,980,663 shares during the period. Finally, Franklin Resources Inc. grew its stake in Amazon.com by 0.5% during the third quarter. Franklin Resources Inc. now owns 47,156,540 shares of the e-commerce giant’s stock worth $8,843,714,000 after buying an additional 257,072 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several analyst reports. JMP Securities restated a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research report on Friday, February 7th. HSBC boosted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wolfe Research raised their target price on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Barclays boosted their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Raymond James raised their price objective on Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Insider Activity

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s 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 sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,649 shares of company stock worth $23,871,905 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

AMZN stock opened at $200.70 on Friday. The firm has a market cap of $2.13 trillion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $224.60 and a 200-day moving average price of $206.46. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.