Eastern Bank Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Eastern Bank lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 739,240 shares of the e-commerce giant’s stock after selling 8,152 shares during the period. Amazon.com makes up approximately 3.0% of Eastern Bank’s holdings, making the stock its 5th biggest position. Eastern Bank’s holdings in Amazon.com were worth $162,182,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Icon Wealth Advisors LLC boosted its holdings in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the 3rd quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. Benchmark lifted their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research note on Tuesday. Redburn Atlantic lifted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James increased their price target on shares of Amazon.com from $230.00 to $260.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.72.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. 10.80% of the stock is currently owned by insiders.

Amazon.com Trading Up 0.2 %

NASDAQ:AMZN opened at $235.42 on Friday. The company has a market cap of $2.48 trillion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $235.52. The business has a 50 day moving average price of $219.15 and a two-hundred day moving average price of $196.95. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 5.39 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.