Mechanics Financial Corp Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mechanics Financial Corp boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,038 shares of the e-commerce giant’s stock after purchasing an additional 285 shares during the quarter. Amazon.com makes up approximately 1.5% of Mechanics Financial Corp’s investment portfolio, making the stock its 13th largest holding. Mechanics Financial Corp’s holdings in Amazon.com were worth $3,361,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. O Connor Financial Group LLC raised its position in Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the period. Cherrydale Wealth Management LLC lifted its position in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the last quarter. Cedar Point Capital Partners LLC boosted its position in shares of Amazon.com by 4.4% during the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares during the period. Finally, Mason & Associates Inc increased its holdings in Amazon.com by 0.4% in the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after purchasing an additional 57 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $223.75 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $209.73 and a 200 day simple moving average of $192.81. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company has a market cap of $2.35 trillion, a PE ratio of 47.91, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business 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 quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Evercore ISI increased their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Pivotal Research began coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective for the company. Rosenblatt Securities boosted their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group lifted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Amazon.com Company 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.