CMG Global Holdings LLC Has $4.18 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

CMG Global Holdings LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,447 shares of the e-commerce giant’s stock after selling 70 shares during the period. Amazon.com accounts for 2.4% of CMG Global Holdings LLC’s investment portfolio, making the stock its 10th largest holding. CMG Global Holdings LLC’s holdings in Amazon.com were worth $4,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Icon Wealth Advisors LLC raised its holdings in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp grew its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $224.19 on Friday. The company has a market cap of $2.36 trillion, a PE ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16. The firm’s 50 day moving average price is $212.34 and its 200-day moving average price is $193.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMZN. Oppenheimer lifted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a report on Wednesday, November 20th. Morgan Stanley lifted their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler raised their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $243.44.

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.