Meridian Wealth Management LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Wealth Management LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 314,705 shares of the e-commerce giant’s stock, valued at approximately $58,639,000. Amazon.com accounts for 2.9% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position.

Several other large investors have also recently modified their holdings of AMZN. Studio Investment Management LLC boosted its holdings in shares of Amazon.com by 1.2% in the third quarter. Studio Investment Management LLC now owns 13,332 shares of the e-commerce giant’s stock worth $2,484,000 after acquiring an additional 162 shares during the period. Allen Capital Group LLC lifted its holdings in Amazon.com by 5.9% during the 3rd quarter. Allen Capital Group LLC now owns 31,780 shares of the e-commerce giant’s stock worth $5,921,000 after purchasing an additional 1,769 shares in the last quarter. Asset Management Group Inc. boosted its stake in Amazon.com by 2.3% in the 3rd quarter. Asset Management Group Inc. now owns 41,572 shares of the e-commerce giant’s stock worth $7,746,000 after purchasing an additional 924 shares during the period. Biltmore Family Office LLC grew its holdings in Amazon.com by 11.2% during the 3rd quarter. Biltmore Family Office LLC now owns 21,054 shares of the e-commerce giant’s stock valued at $3,923,000 after buying an additional 2,124 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV increased its position in shares of Amazon.com by 16.3% during the third quarter. Planning Alternatives Ltd. ADV now owns 1,883 shares of the e-commerce giant’s stock valued at $351,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $220.22 on Friday. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a 50-day simple moving average of $211.67 and a two-hundred day simple moving average of $193.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market capitalization of $2.32 trillion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Roth Mkm raised their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Susquehanna raised their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $243.00.

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.