Meridian Wealth Advisors LLC Has $12.03 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Wealth Advisors LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,844 shares of the e-commerce giant's stock after selling 12,737 shares during the period. Amazon.com makes up 2.0% of Meridian Wealth Advisors LLC's portfolio, making the stock its 10th biggest position. Meridian Wealth Advisors LLC's holdings in Amazon.com were worth $12,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Swedbank AB lifted its position in Amazon.com by 1.4% in the 3rd quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant's stock valued at $2,484,864,000 after acquiring an additional 183,610 shares in the last quarter. Sassicaia Capital Advisers LLC acquired a new stake in shares of Amazon.com in the 3rd quarter valued at about $279,000. Howard Capital Management Group LLC boosted its position in shares of Amazon.com by 0.3% during the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant's stock worth $66,434,000 after buying an additional 897 shares during the period. Pettinga Financial Advisors LLC grew its holdings in shares of Amazon.com by 4.3% during the third quarter. Pettinga Financial Advisors LLC now owns 5,512 shares of the e-commerce giant's stock worth $1,027,000 after buying an additional 225 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Amazon.com by 5.1% in the 3rd quarter. Principal Financial Group Inc. now owns 20,166,314 shares of the e-commerce giant's stock valued at $3,757,589,000 after buying an additional 984,570 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. DA Davidson cut their price target on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark upped their target price on Amazon.com from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Maxim Group raised their price target on Amazon.com from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Cantor Fitzgerald dropped their price objective on Amazon.com from $270.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Scotiabank decreased their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $247.56.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at approximately $95,776,017.26. The trade was a 0.49 % 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, VP Shelley Reynolds sold 8,833 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company's stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,798 shares of company stock worth $23,341,803. Insiders own 10.80% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $180.84 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.92 trillion, a P/E ratio of 32.70, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The business has a fifty day simple moving average of $195.11 and a 200 day simple moving average of $207.66.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.

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