Cornerstone Wealth Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 61.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,304,151 shares of the e-commerce giant’s stock after selling 2,036,018 shares during the period. Cornerstone Wealth Management LLC owned approximately 0.27% of Amazon.com worth $1,316,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northern Trust Corp grew its stake in Amazon.com by 1.1% in the 2nd quarter. Northern Trust Corp now owns 4,676,441 shares of the e-commerce giant’s stock valued at $7,949,013,000 after buying an additional 50,552 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Amazon.com by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,519,232 shares of the e-commerce giant’s stock valued at $2,582,390,000 after buying an additional 69,312 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Amazon.com by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,491,056 shares of the e-commerce giant’s stock valued at $2,534,497,000 after buying an additional 59,753 shares during the last quarter. American Century Companies Inc. grew its position in shares of Amazon.com by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 1,473,633 shares of the e-commerce giant’s stock worth $2,504,881,000 after purchasing an additional 75,114 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Amazon.com by 8.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,418,279 shares of the e-commerce giant’s stock worth $2,410,791,000 after purchasing an additional 111,901 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.
AMZN has been the topic of a number of analyst reports. Royal Bank of Canada restated a “buy” rating on shares of Amazon.com in a research report on Monday, October 29th. Stifel Nicolaus restated a “buy” rating and set a $2,525.00 target price on shares of Amazon.com in a research report on Friday, October 12th. Nomura restated a “buy” rating on shares of Amazon.com in a research report on Thursday, November 8th. Goldman Sachs Group decreased their target price on shares of Amazon.com from $2,200.00 to $2,000.00 and set a “conviction-buy” rating on the stock in a research report on Friday, January 4th. Finally, SunTrust Banks increased their target price on shares of Amazon.com to $2,250.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Three research analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $2,087.85.
In other news, CEO Jeffrey A. Wilke sold 1,230 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $1,506.94, for a total transaction of $1,853,536.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey P. Bezos sold 16,964 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $1,632.23, for a total transaction of $27,689,149.72. Following the transaction, the chief executive officer now directly owns 78,884,539 shares of the company’s stock, valued at approximately $128,757,711,091.97. The disclosure for this sale can be found here. In the last three months, insiders sold 23,842 shares of company stock valued at $38,549,801. 16.30% of the stock is owned by insiders.
Shares of NASDAQ:AMZN opened at $1,640.56 on Friday. The company has a market capitalization of $811.40 billion, a P/E ratio of 360.56, a P/E/G ratio of 2.33 and a beta of 1.66. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.63. Amazon.com, Inc. has a one year low of $1,265.93 and a one year high of $2,050.50.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 25th. The e-commerce giant reported $5.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.29 by $2.46. The business had revenue of $56.58 billion during the quarter, compared to the consensus estimate of $57.05 billion. Amazon.com had a net margin of 4.03% and a return on equity of 24.35%. On average, research analysts forecast that Amazon.com, Inc. will post 19.5 earnings per share for the current fiscal year.
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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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