Amazon.com, Inc. $AMZN Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 101,266 shares of the e-commerce giant’s stock after buying an additional 7,872 shares during the period. Amazon.com makes up approximately 1.3% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 16th largest position. Cornerstone Wealth Group LLC’s holdings in Amazon.com were worth $21,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC raised its stake in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after acquiring an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after acquiring an additional 54,987 shares during the period. Highview Capital Management LLC DE boosted its position in Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after acquiring an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new position in shares of Amazon.com in the fourth quarter worth $2,153,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $242.67 on Monday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $254.57 and a 200-day moving average of $234.65. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same period in the previous year, the firm earned $1.59 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the transaction, the chief executive officer owned 471,361 shares of the company’s stock, valued at approximately $129,624,275. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. This represents a 18.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMZN shares. BNP Paribas Exane lifted their price objective on shares of Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Morgan Stanley increased their target price on shares of Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. HSBC raised their target price on shares of Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Robert W. Baird boosted their price target on shares of Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $350.00 price target on shares of Amazon.com in a research note on Tuesday, May 12th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.79.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.