Amazon.com, Inc. (NASDAQ:AMZN) is Choate Investment Advisors’ 7th Largest Position

Choate Investment Advisors boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 449,192 shares of the e-commerce giant’s stock after purchasing an additional 24,733 shares during the period. Amazon.com comprises 2.4% of Choate Investment Advisors’ investment portfolio, making the stock its 7th largest position. Choate Investment Advisors’ holdings in Amazon.com were worth $98,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Rench Wealth Management Inc. boosted 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 valued at $9,392,000 after buying an additional 3,703 shares during the period. Blankinship & Foster LLC increased its position in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after acquiring an additional 4,740 shares during the period. One Wealth Capital Management LLC bought a new position in shares of Amazon.com during the fourth quarter valued at about $4,270,000. Floyd Financial Group LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth about $4,494,000. Finally, Washington Trust Advisors Inc. grew 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 worth $41,972,000 after purchasing an additional 982 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brian T. Olsavsky sold 14,620 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $10,933,860. This represents a 22.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the transaction, the chief executive officer now directly owns 505,318 shares in the company, valued at approximately $115,434,843.92. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock valued at $23,341,803 over the last quarter. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Amazon.com from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Canaccord Genuity Group reissued a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Citigroup dropped their target price on shares of Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a research report on Monday. Wolfe Research increased their price target on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Scotiabank lifted their price objective on Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.73.

Amazon.com Stock Down 2.9 %

Shares of AMZN opened at $174.33 on Thursday. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 31.52, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a fifty day moving average price of $200.86 and a 200-day moving average price of $208.06. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.