Amazon Shareholders Trim Holdings Amid Earnings Beat

Monograph Wealth Advisors LLC has reduced its holdings in Amazon.com by 12.7% in the first quarter, according to its latest SEC filing. The firm now owns 34,406 shares of the e-commerce giant's stock after selling 5,018 shares during the quarter. This represents 0.7% of Monograph Wealth Advisors LLC's investment portfolio, making Amazon.com its 20th largest position.

The value of Monograph Wealth Advisors LLC's holdings in Amazon.com was $7,166,000 as of its most recent SEC filing. Several other large investors have also made changes to their positions in AMZN. MilWealth Group LLC increased its holdings by 79.0% during the fourth quarter and now owns 179 shares worth $41,000.

Amazon.com's second-quarter earnings beat expectations, with the company reporting $5.75 EPS and revenue of $200.61 billion. Analysts remain bullish on Amazon, with several firms raising their price targets. Benchmark increased its target on Amazon from $370 to $400, while JPMorgan Chase & Co. raised its target from $330 to $365.