MGB Wealth Management LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

MGB Wealth Management LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,217 shares of the e-commerce giant’s stock after purchasing an additional 1,267 shares during the period. Amazon.com makes up 0.7% of MGB Wealth Management LLC’s portfolio, making the stock its 29th largest holding. MGB Wealth Management LLC’s holdings in Amazon.com were worth $2,245,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Accordant Advisory Group Inc boosted its stake in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. Icon Wealth Advisors LLC boosted its stake in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the period. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the 3rd quarter worth about $45,000. Quattro Financial Advisors LLC boosted its position in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $196.59 on Wednesday. The company’s fifty day moving average price is $223.12 and its 200 day moving average price is $207.25. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.08 trillion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMZN. Stifel Nicolaus boosted their price objective on shares of Amazon.com from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Oppenheimer boosted their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at $10,864,125. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,298 shares of company stock valued at $22,871,828. 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.