Kingsview Wealth Management LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kingsview Wealth Management LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 477,074 shares of the e-commerce giant’s stock after acquiring an additional 43,527 shares during the period. Amazon.com makes up approximately 1.9% of Kingsview Wealth Management LLC’s holdings, making the stock its 9th largest holding. Kingsview Wealth Management LLC’s holdings in Amazon.com were worth $88,893,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PayPay Securities Corp grew its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the 3rd quarter valued at approximately $45,000. Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the third quarter worth $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 1.8 %

Shares of NASDAQ AMZN opened at $224.19 on Friday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The stock has a 50 day moving average price of $212.34 and a 200 day moving average price of $193.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business 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 business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of analyst reports. Redburn Atlantic upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush raised their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. DA Davidson reiterated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Finally, Bank of America upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.44.

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.