M&T Bank Corp Sells 99,632 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

M&T Bank Corp reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,420,354 shares of the e-commerce giant’s stock after selling 99,632 shares during the quarter. Amazon.com accounts for 1.5% of M&T Bank Corp’s portfolio, making the stock its 12th largest position. M&T Bank Corp’s holdings in Amazon.com were worth $450,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rench Wealth Management Inc. grew its position in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Umpqua Bank grew its holdings in shares of Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares in the last quarter. Finally, First Dallas Securities Inc. raised its holdings in shares of Amazon.com by 12.5% in the third quarter. First Dallas Securities Inc. now owns 28,238 shares of the e-commerce giant’s stock valued at $5,262,000 after buying an additional 3,140 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a report on Tuesday, December 10th. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Finally, Scotiabank lifted their target price on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Two investment 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. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $245.65.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares of the company’s stock, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by insiders.

Amazon.com Trading Down 1.2 %

AMZN opened at $220.66 on Friday. The firm’s fifty day simple moving average is $217.35 and its 200 day simple moving average is $195.93. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 47.25, a P/E/G ratio of 1.22 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12 month low of $149.91 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 5.38 EPS for the current fiscal year.

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.