Cannon Wealth Management Services LLC Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Cannon Wealth Management Services LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,627 shares of the e-commerce giant’s stock after buying an additional 61 shares during the quarter. Amazon.com accounts for about 1.6% of Cannon Wealth Management Services LLC’s portfolio, making the stock its 20th largest holding. Cannon Wealth Management Services LLC’s holdings in Amazon.com were worth $1,811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. AMF Tjanstepension AB raised its position in Amazon.com by 44.3% during the third quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant’s stock valued at $492,172,000 after acquiring an additional 811,425 shares in the last quarter. Swedbank AB grew its stake in shares of Amazon.com by 1.4% during the 3rd quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock worth $2,484,864,000 after purchasing an additional 183,610 shares during the period. Sassicaia Capital Advisers LLC purchased a new position in shares of Amazon.com during the 3rd quarter valued at approximately $279,000. Howard Capital Management Group LLC lifted its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock valued at $66,434,000 after purchasing an additional 897 shares during the period. Finally, Meridian Management Co. boosted its holdings in Amazon.com by 27.6% during the third quarter. Meridian Management Co. now owns 33,460 shares of the e-commerce giant’s stock worth $6,235,000 after buying an additional 7,246 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 1.2 %

NASDAQ AMZN opened at $205.71 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.50 and a beta of 1.19. The firm has a 50 day simple moving average of $218.36 and a 200-day simple moving average of $208.86. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Jefferies Financial Group upped their price target 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. Mizuho increased their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Finally, HSBC increased their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the sale, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,298 shares of company stock worth $22,871,828 in the last quarter. 10.80% of the stock is owned by company insiders.

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.