King Wealth Management Group Has $8.84 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

King Wealth Management Group raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 13.7% in the third quarter, HoldingsChannel reports. The fund owned 47,466 shares of the e-commerce giant’s stock after purchasing an additional 5,713 shares during the quarter. Amazon.com makes up approximately 1.4% of King Wealth Management Group’s holdings, making the stock its 21st largest holding. King Wealth Management Group’s holdings in Amazon.com were worth $8,844,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. RFG Holdings Inc. increased its stake in Amazon.com by 32.0% in the 2nd quarter. RFG Holdings Inc. now owns 5,984 shares of the e-commerce giant’s stock valued at $1,156,000 after buying an additional 1,451 shares during the last quarter. Transform Wealth LLC lifted its holdings in Amazon.com by 2.7% during the second quarter. Transform Wealth LLC now owns 134,995 shares of the e-commerce giant’s stock valued at $26,088,000 after purchasing an additional 3,560 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Amazon.com by 13.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 177,606 shares of the e-commerce giant’s stock valued at $34,322,000 after purchasing an additional 21,406 shares during the period. Quantum Financial Advisors LLC grew its stake in Amazon.com by 0.8% during the second quarter. Quantum Financial Advisors LLC now owns 10,482 shares of the e-commerce giant’s stock valued at $2,026,000 after acquiring an additional 80 shares in the last quarter. Finally, Diligent Investors LLC raised its position in shares of Amazon.com by 4.2% in the second quarter. Diligent Investors LLC now owns 16,138 shares of the e-commerce giant’s stock worth $3,119,000 after buying an additional 650 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AMZN. Telsey Advisory Group raised their price target on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Moffett Nathanson boosted their target price on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm raised their target price on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares in the company, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $229.05 on Thursday. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. 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 company’s 50 day moving average is $207.40 and its two-hundred day moving average is $192.05. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. As a group, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.