Cornerstone Wealth Management LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,690 shares of the e-commerce giant’s stock after buying an additional 97 shares during the period. Amazon.com comprises about 0.9% of Cornerstone Wealth Management LLC’s holdings, making the stock its 23rd largest position. Cornerstone Wealth Management LLC’s holdings in Amazon.com were worth $8,769,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of Amazon.com by 1.5% during the first quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock valued at $579,225,000 after buying an additional 2,686 shares during the last quarter. Graypoint LLC boosted its position in Amazon.com by 57.9% in the first quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock worth $5,555,000 after purchasing an additional 625 shares during the last quarter. Atlas Private Wealth Advisors purchased a new position in Amazon.com in the first quarter worth $6,229,000. MCIA Inc boosted its position in Amazon.com by 9.0% in the first quarter. MCIA Inc now owns 1,495 shares of the e-commerce giant’s stock worth $4,517,000 after purchasing an additional 124 shares during the last quarter. Finally, Legacy Private Trust Co. boosted its position in Amazon.com by 60.0% in the first quarter. Legacy Private Trust Co. now owns 4,058 shares of the e-commerce giant’s stock worth $13,229,000 after purchasing an additional 1,522 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors.
Several research firms have weighed in on AMZN. Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $205.00 to $175.00 in a research report on Friday, April 29th. Cowen cut their price objective on Amazon.com from $220.00 to $212.50 in a research report on Friday, April 29th. Susquehanna cut their price objective on Amazon.com from $250.00 to $190.00 in a research report on Friday, April 29th. Monness Crespi & Hardt cut their price objective on Amazon.com from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, April 29th. Finally, DA Davidson cut their price objective on Amazon.com from $195.00 to $156.25 in a research report on Friday, April 29th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $185.45.
In related news, VP Shelley Reynolds sold 173 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $2,169.22, for a total transaction of $375,275.06. Following the completion of the sale, the vice president now directly owns 5,989 shares in the company, valued at approximately $12,991,458.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 418 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $906,733.96. Following the sale, the senior vice president now owns 3,537 shares of the company’s stock, valued at $7,672,531.14. The disclosure for this sale can be found here. Insiders sold a total of 4,803 shares of company stock valued at $10,528,337 over the last quarter. Company insiders own 12.70% of the company’s stock.
AMZN opened at $111.75 on Tuesday. The stock has a 50-day moving average price of $112.39 and a 200-day moving average price of $139.60. Amazon.com, Inc. has a 12-month low of $101.26 and a 12-month high of $188.65. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 53.95, a PEG ratio of 3.69 and a beta of 1.25.
Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The e-commerce giant reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The firm had revenue of $116.44 billion during the quarter, compared to analysts’ expectations of $116.52 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. Amazon.com’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 1.17 EPS for the current year.
Amazon.com Company Profile (Get Rating)
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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
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