American International Group Inc. Acquires 7,334 Shares of American Well Co. (NYSE:AMWL)

American International Group Inc. raised its holdings in American Well Co. (NYSE:AMWL) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,048 shares of the company’s stock after buying an additional 7,334 shares during the period. American International Group Inc.’s holdings in American Well were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMWL. Moneta Group Investment Advisors LLC bought a new position in shares of American Well during the fourth quarter worth approximately $501,952,000. BlackRock Inc. increased its stake in shares of American Well by 1.3% during the first quarter. BlackRock Inc. now owns 19,949,690 shares of the company’s stock worth $47,081,000 after purchasing an additional 251,812 shares during the period. Vanguard Group Inc. increased its stake in shares of American Well by 6.3% during the third quarter. Vanguard Group Inc. now owns 19,054,471 shares of the company’s stock worth $68,405,000 after purchasing an additional 1,129,172 shares during the period. State Street Corp increased its stake in shares of American Well by 1.9% during the first quarter. State Street Corp now owns 6,112,889 shares of the company’s stock worth $14,426,000 after purchasing an additional 112,631 shares during the period. Finally, Geode Capital Management LLC grew its position in American Well by 3.8% during the first quarter. Geode Capital Management LLC now owns 4,535,206 shares of the company’s stock worth $10,703,000 after buying an additional 163,979 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

American Well Stock Performance

Shares of AMWL stock opened at $1.40 on Tuesday. The stock’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.71. The company has a market cap of $401.16 million, a PE ratio of -0.57 and a beta of 0.90. American Well Co. has a fifty-two week low of $0.93 and a fifty-two week high of $4.28.

Insider Buying and Selling at American Well

In other American Well news, CFO Robert Shepardson sold 24,989 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $1.50, for a total value of $37,483.50. Following the sale, the chief financial officer now owns 1,033,686 shares of the company’s stock, valued at approximately $1,550,529. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ido Schoenberg sold 135,236 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $1.20, for a total transaction of $162,283.20. Following the sale, the chief executive officer now owns 1,285,011 shares of the company’s stock, valued at approximately $1,542,013.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Shepardson sold 24,989 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $1.50, for a total value of $37,483.50. Following the sale, the chief financial officer now directly owns 1,033,686 shares in the company, valued at approximately $1,550,529. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,341 shares of company stock valued at $325,230. 12.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Morgan Stanley reduced their price target on American Well from $2.50 to $1.75 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.71.

About American Well

American Well Corporation operates digital care delivery enablement platform in the United States and internationally. Its platform connects and enables providers, insurers, patients, and innovators to deliver access for quality care. The company's products offer urgent care; scheduled visits; acute behavioral health; telestroke; comprehensive behavioral health; ED triage; pediatrics; end-stage renal disease and dialysis; and retail health, school health, and home settings.