Secure Asset Management LLC Purchases 3,521 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Secure Asset Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 7.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,478 shares of the e-commerce giant’s stock after acquiring an additional 3,521 shares during the period. Amazon.com makes up about 1.6% of Secure Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Secure Asset Management LLC’s holdings in Amazon.com were worth $9,219,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Garrison Point Advisors LLC raised its stake in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the period. O Connor Financial Group LLC lifted its holdings in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC boosted its position in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after acquiring an additional 55 shares in the last quarter. Finally, Lutz Financial Services LLC increased its stake in Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after acquiring an additional 57 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMZN shares. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. JMP Securities increased their price objective on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Needham & Company LLC upped their target price on shares of Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities upped their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $235.45.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,053,349 shares of company stock worth $1,256,503,289. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 4.2 %

Shares of AMZN opened at $202.61 on Friday. The firm has a fifty day moving average price of $191.16 and a 200-day moving average price of $185.69. 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 firm has a market capitalization of $2.13 trillion, a P/E ratio of 43.39, a P/E/G ratio of 1.44 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $139.52 and a 12-month high of $215.90.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. During the same quarter last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 5.27 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.