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

MFG Wealth Management Inc. trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,084 shares of the e-commerce giant's stock after selling 2,763 shares during the quarter. Amazon.com makes up 2.6% of MFG Wealth Management Inc.'s holdings, making the stock its 9th largest holding. MFG Wealth Management Inc.'s holdings in Amazon.com were worth $2,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AMZN. Norges Bank purchased a new position in shares of Amazon.com during the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC grew its holdings in shares of Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after buying an additional 30,104,520 shares in the last quarter. Capital World Investors grew its holdings in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after buying an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded up $2.25 on Friday, reaching $226.13. The company's stock had a trading volume of 37,691,170 shares, compared to its average volume of 41,988,670. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market cap of $2.40 trillion, a P/E ratio of 36.83, a PEG ratio of 1.69 and a beta of 1.33. The company has a 50-day simple moving average of $213.50 and a 200 day simple moving average of $208.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping 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 firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the previous year, the company earned $0.98 EPS. The firm's revenue for the quarter 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMZN. Rosenblatt Securities boosted their price target on Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $240.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays cut their price objective on Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, DA Davidson lowered their price target on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $250.35.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer owned 514,550 shares in the company, valued at approximately $113,231,873. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 733,195 shares of the company'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 completion of the sale, the insider directly owned 894,546,706 shares of the company's stock, valued at $203,079,993,196.12. The trade was a 0.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,335,232 shares of company stock valued at $3,210,622,570. 9.70% of the stock is owned by corporate 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.