MGB Wealth Management LLC Has $1.67 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

MGB Wealth Management LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,950 shares of the e-commerce giant’s stock after selling 2,950 shares during the quarter. MGB Wealth Management LLC’s holdings in Amazon.com were worth $1,669,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMZN. Legal & General Group Plc raised its stake in shares of Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amazon.com by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after buying an additional 1,980,663 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Amazon.com by 3.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after acquiring an additional 1,329,150 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMZN shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a report on Wednesday, November 20th. Telsey Advisory Group lifted their price objective on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a report on Tuesday, December 10th. Scotiabank boosted their target price on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Finally, Oppenheimer increased their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $243.44.

Amazon.com Stock Up 1.8 %

NASDAQ:AMZN opened at $224.19 on Friday. The stock’s fifty day simple moving average is $213.07 and its 200-day simple moving average is $194.05. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS. Equities research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

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.