CMG Global Holdings LLC Sells 10,999 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CMG Global Holdings LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 51.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,443 shares of the e-commerce giant’s stock after selling 10,999 shares during the period. Amazon.com comprises 1.3% of CMG Global Holdings LLC’s holdings, making the stock its 22nd largest position. CMG Global Holdings LLC’s holdings in Amazon.com were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Western Wealth Management LLC grew its holdings in shares of Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock valued at $26,660,000 after acquiring an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. bought a new position in shares of Amazon.com in the 4th quarter valued at about $749,000. Segall Bryant & Hamill LLC grew its holdings in shares of Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Bearing Point Capital LLC acquired a new stake in Amazon.com in the 4th quarter valued at about $12,014,000. Finally, Evergreen Capital Management LLC lifted its stake in Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after purchasing an additional 1,198 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMZN shares. 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 note on Friday, May 2nd. Tigress Financial raised their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Moffett Nathanson raised their price objective 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. Rosenblatt Securities raised their price objective on shares of Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Mizuho cut their price objective on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $254.33.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $232.23 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 twelve month low of $151.61 and a twelve month high of $242.52. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 1.70 and a beta of 1.33. The company’s fifty day moving average is $215.14 and its 200 day moving average is $208.84.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share 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 for the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer owned 514,550 shares of the company’s stock, valued at $113,231,873. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,339,470 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $229.39, for a total transaction of $536,651,023.30. Following the completion of the transaction, the insider owned 887,933,999 shares in the company, valued at approximately $203,683,180,030.61. The trade was a 0.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,947,939 shares of company stock worth $4,720,588,785. 9.70% of the stock is currently owned by insiders.

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.