Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by MFG Wealth Management Inc.

MFG Wealth Management Inc. lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 16.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,084 shares of the e-commerce giant’s stock after selling 2,763 shares during the period. Amazon.com makes up 2.6% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 9th largest holding. MFG Wealth Management Inc.’s holdings in Amazon.com were worth $2,680,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the fourth quarter worth about $27,000. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter worth about $35,000. Inlight Wealth Management LLC purchased a new stake in Amazon.com during the first quarter worth about $40,000. Finally, Perritt Capital Management Inc boosted its holdings in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wedbush reissued an “outperform” rating and set a $235.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Citigroup restated a “market outperform” rating on shares of Amazon.com in a research report on Thursday, July 10th. Stifel Nicolaus cut their target price on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Moffett Nathanson lifted their target price on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.35.

Amazon.com Price Performance

AMZN opened at $226.13 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a 50 day moving average of $213.50 and a two-hundred day moving average of $208.67. The company has a market cap of $2.40 trillion, a P/E ratio of 36.83, a P/E/G ratio of 1.67 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 733,195 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the transaction, the insider directly owned 894,546,706 shares in the company, valued at approximately $203,079,993,196.12. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total transaction of $550,150.00. Following the completion of the transaction, the chief executive officer owned 514,550 shares of the company’s stock, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,335,232 shares of company stock valued at $3,210,622,570. 9.70% of the stock is owned by 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.