Cassaday & Co Wealth Management LLC Has $16.02 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Cassaday & Co Wealth Management LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 73,037 shares of the e-commerce giant’s stock after buying an additional 1,596 shares during the period. Amazon.com makes up approximately 0.4% of Cassaday & Co Wealth Management LLC’s holdings, making the stock its 23rd largest holding. Cassaday & Co Wealth Management LLC’s holdings in Amazon.com were worth $16,024,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Grove Street Fiduciary LLC acquired a new stake in Amazon.com during the 4th quarter valued at $332,000. Arcadia Investment Management Corp MI increased its position in Amazon.com by 0.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 75,381 shares of the e-commerce giant’s stock worth $16,538,000 after buying an additional 521 shares during the period. Compass Capital Corp MA ADV bought a new position in Amazon.com during the 4th quarter worth $6,148,000. Summerhill Capital Management lnc. increased its position in Amazon.com by 2.2% during the 4th quarter. Summerhill Capital Management lnc. now owns 55,390 shares of the e-commerce giant’s stock worth $12,152,000 after buying an additional 1,191 shares during the period. Finally, Timonier Family Office LTD. bought a new position in Amazon.com during the 4th quarter worth $425,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMZN. Maxim Group increased their price objective on Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Redburn Atlantic increased their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Finally, Rosenblatt Securities increased their price objective on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Price Performance

Amazon.com stock opened at $196.21 on Friday. The stock’s 50 day moving average is $218.90 and its 200 day moving average is $208.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a market cap of $2.08 trillion, a P/E ratio of 35.48, a P/E/G ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,298 shares of company stock valued at $22,871,828 over the last ninety days. 10.80% of the stock is owned by company insiders.

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.