Grove Bank & Trust Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Grove Bank & Trust lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,972 shares of the e-commerce giant’s stock after acquiring an additional 3,250 shares during the period. Amazon.com makes up approximately 2.1% of Grove Bank & Trust’s portfolio, making the stock its 8th largest position. Grove Bank & Trust’s holdings in Amazon.com were worth $11,543,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Amazon.com by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after acquiring an additional 32,038,029 shares during the period. FMR LLC lifted its position in Amazon.com by 7.7% during the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Northern Trust Corp boosted its holdings in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after purchasing an additional 3,260,411 shares during the last quarter. Jennison Associates LLC grew its position in Amazon.com by 28.4% in the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock worth $6,989,254,000 after purchasing an additional 12,176,114 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Amazon.com by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,395,031 shares of the e-commerce giant’s stock valued at $6,406,216,000 after buying an additional 1,374,052 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Douglas J. Herrington sold 20,200 shares of Amazon.com stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the transaction, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at approximately $23,868,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 20,200 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total value of $3,433,798.00. Following the transaction, the chief executive officer now owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday. Telsey Advisory Group upped their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday. Roth Mkm reissued a “buy” rating and issued a $210.00 price objective (up previously from $205.00) on shares of Amazon.com in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Amazon.com in a report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Amazon.com from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $211.07.

Amazon.com Trading Up 0.8 %

AMZN opened at $186.21 on Friday. The stock has a 50-day moving average of $178.79 and a 200 day moving average of $159.95. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12 month low of $103.31 and a 12 month high of $189.77. The firm has a market cap of $1.93 trillion, a P/E ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The firm had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 4.12 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.