MFG Wealth Management Inc. Sells 2,763 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

MFG Wealth Management Inc. cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 16.4% during the 1st quarter, HoldingsChannel reports. The fund owned 14,084 shares of the e-commerce giant’s stock after selling 2,763 shares during the period. Amazon.com comprises 2.6% of MFG Wealth Management Inc.’s portfolio, making the stock its 9th largest position. MFG Wealth Management Inc.’s holdings in Amazon.com were worth $2,680,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the fourth quarter valued at $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com during the fourth quarter worth $35,000. Perritt Capital Management Inc raised its holdings in shares of 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 purchasing an additional 80 shares during the period. Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the first quarter worth $40,000. Finally, Capitol Family Office Inc. acquired a new stake in shares of Amazon.com during the first quarter worth $42,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Up 1.0%

AMZN stock opened at $226.13 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company’s 50 day simple moving average is $213.50 and its 200-day simple moving average is $208.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a market capitalization 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 results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AMZN. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Piper Sandler set a $250.00 price objective on shares of Amazon.com and gave the stock an “overweight” rating in a report on Friday, July 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of Amazon.com in a report on Thursday, July 10th. Benchmark reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Finally, Tigress Financial increased their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $250.35.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 514,550 shares in the company, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 733,195 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total transaction of $166,449,928.90. Following the sale, the insider owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. This represents a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,335,232 shares of company stock worth $3,210,622,570 in the last 90 days. 9.70% 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.