SK Wealth Management LLC Purchases New Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

SK Wealth Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,131 shares of the e-commerce giant's stock, valued at approximately $1,142,000. Amazon.com accounts for 0.5% of SK Wealth Management LLC's investment portfolio, making the stock its 28th largest position.

Other large investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp boosted 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 valued at $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the 3rd quarter worth about $45,000. Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, Innealta Capital LLC acquired a new position in Amazon.com during the second quarter valued at approximately $77,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company's stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the sale, the insider now directly owns 914,420,614 shares of the company's stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wolfe Research raised their price objective on Amazon.com from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They set a "buy" rating and a $260.00 price objective on the stock. Rosenblatt Securities increased their target price on Amazon.com from $221.00 to $236.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Maxim Group boosted their price target on Amazon.com from $251.00 to $260.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $245.65.

Amazon.com Stock Performance

Amazon.com stock traded up $5.28 during mid-day trading on Friday, hitting $225.94. 42,097,354 shares of the company's stock traded hands, compared to its average volume of 27,997,364. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $233.00. The company has a market cap of $2.38 trillion, a PE ratio of 48.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. The firm has a 50 day moving average price of $217.91 and a 200 day moving average price of $196.28. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts' expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, equities analysts forecast that Amazon.com, Inc. will post 5.38 EPS for the current year.

About Amazon.com

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.