Meridian Wealth Advisors LLC Trims Stake in Amazon.com, Inc. $AMZN

Meridian Wealth Advisors LLC reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,204 shares of the e-commerce giant’s stock after selling 640 shares during the quarter. Amazon.com comprises about 1.8% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 12th biggest position. Meridian Wealth Advisors LLC’s holdings in Amazon.com were worth $10,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Talisman Wealth Advisors LLC increased its holdings in shares of Amazon.com by 1.2% in the 4th quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant’s stock valued at $1,020,000 after acquiring an additional 53 shares during the period. SWAN Capital LLC increased its holdings in shares of Amazon.com by 3.1% in the 4th quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant’s stock valued at $396,000 after acquiring an additional 55 shares during the period. Lokken Investment Group LLC increased its holdings in shares of Amazon.com by 1.5% in the 4th quarter. Lokken Investment Group LLC now owns 3,866 shares of the e-commerce giant’s stock valued at $848,000 after acquiring an additional 56 shares during the period. CWC Advisors LLC. increased its holdings in shares of Amazon.com by 3.1% in the 4th quarter. CWC Advisors LLC. now owns 1,872 shares of the e-commerce giant’s stock valued at $411,000 after acquiring an additional 56 shares during the period. Finally, JBGlobal.com LLC increased its holdings in shares of Amazon.com by 2.1% in the 1st quarter. JBGlobal.com LLC now owns 2,669 shares of the e-commerce giant’s stock valued at $508,000 after acquiring an additional 56 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research analyst reports. Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Roth Capital set a $250.00 target price on Amazon.com and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Bank of America boosted their target price on Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citizens Jmp initiated coverage on Amazon.com in a research note on Thursday, July 10th. They set a “strong-buy” rating on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Amazon.com in a research note on Friday, August 1st. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $262.87.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $231.49 on Tuesday. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market cap of $2.47 trillion, a PE ratio of 35.29, a P/E/G ratio of 1.56 and a beta of 1.31. The stock has a 50 day moving average price of $221.70 and a 200 day moving average price of $208.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The firm had revenue of $167.70 billion during the quarter, compared to analysts’ expectations of $161.80 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.