Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Eastern Bank

Eastern Bank increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 124.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 747,392 shares of the e-commerce giant’s stock after buying an additional 414,955 shares during the quarter. Amazon.com accounts for approximately 2.5% of Eastern Bank’s investment portfolio, making the stock its 5th largest position. Eastern Bank’s holdings in Amazon.com were worth $139,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Amazon.com by 31.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock worth $32,894,000 after purchasing an additional 43,759 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Amazon.com by 3.3% in the 1st quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after purchasing an additional 1,081 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Amazon.com by 13.5% in the 1st quarter. Empowered Funds LLC now owns 185,064 shares of the e-commerce giant’s stock worth $33,382,000 after purchasing an additional 22,071 shares in the last quarter. PFG Advisors lifted its holdings in shares of Amazon.com by 4.5% in the 1st quarter. PFG Advisors now owns 62,181 shares of the e-commerce giant’s stock worth $11,216,000 after purchasing an additional 2,681 shares in the last quarter. Finally, Aull & Monroe Investment Management Corp lifted its holdings in shares of Amazon.com by 6.6% in the 1st quarter. Aull & Monroe Investment Management Corp now owns 1,578 shares of the e-commerce giant’s stock worth $285,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now owns 94,630 shares in the company, valued at $19,858,105.50. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,011,423 shares of company stock valued at $1,249,093,896 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on AMZN. Rosenblatt Securities increased their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer raised their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JMP Securities raised their target price on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Finally, UBS Group raised their target price on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.77.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $197.12 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business’s 50 day simple moving average is $193.00 and its two-hundred day simple moving average is $186.29. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90.

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, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. Analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current 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.