Global Wealth Management LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Global Wealth Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 4,360 shares of the e-commerce giant’s stock, valued at approximately $812,000. Amazon.com makes up about 0.5% of Global Wealth Management LLC’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMZN. First Bank & Trust lifted its stake in Amazon.com by 3.3% during the 3rd quarter. First Bank & Trust now owns 26,389 shares of the e-commerce giant’s stock valued at $4,917,000 after acquiring an additional 843 shares in the last quarter. Consolidated Portfolio Review Corp raised its stake in shares of Amazon.com by 42.4% in the third quarter. Consolidated Portfolio Review Corp now owns 25,523 shares of the e-commerce giant’s stock valued at $4,756,000 after buying an additional 7,605 shares during the period. PFG Investments LLC increased its stake in shares of Amazon.com by 3.2% in the third quarter. PFG Investments LLC now owns 156,934 shares of the e-commerce giant’s stock worth $29,242,000 after purchasing an additional 4,903 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Amazon.com by 19,273.3% during the third quarter. Pathway Financial Advisers LLC now owns 1,310,412 shares of the e-commerce giant’s stock worth $244,169,000 after acquiring an additional 1,303,648 shares in the last quarter. Finally, Viewpoint Capital Management LLC boosted its position in shares of Amazon.com by 2.3% in the third quarter. Viewpoint Capital Management LLC now owns 125,788 shares of the e-commerce giant’s stock valued at $23,644,000 after acquiring an additional 2,876 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMZN shares. TD Cowen lifted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush lifted their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Maxim Group raised their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the sale, the director now directly owns 94,630 shares of the company’s stock, valued at $19,858,105.50. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,026,683 shares of company stock worth $1,252,148,795 in the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 1.0 %

NASDAQ AMZN opened at $207.89 on Friday. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90. The company has a fifty day simple moving average of $194.78 and a two-hundred day simple moving average of $186.94. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.19 trillion, a P/E ratio of 44.52, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, analysts forecast that Amazon.com, Inc. will post 5.29 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.