Mechanics Bank Trust Department Buys 4,309 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Mechanics Bank Trust Department grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,327 shares of the e-commerce giant’s stock after acquiring an additional 4,309 shares during the quarter. Amazon.com comprises about 1.7% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 10th largest holding. Mechanics Bank Trust Department’s holdings in Amazon.com were worth $12,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMZN. Vanguard Group Inc. boosted its position in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. FMR LLC raised its stake in shares of Amazon.com by 0.5% during the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD grew its position in Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after buying an additional 4,087,933 shares in the last quarter. Finally, Norges Bank bought a new position in Amazon.com in the 4th quarter valued at about $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $213.24 on Friday. The company has a market cap of $2.26 trillion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock has a 50-day moving average of $194.64 and a 200-day moving average of $209.13. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on AMZN shares. Jefferies Financial Group dropped their price target on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI dropped their target price on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wedbush restated an “outperform” rating and issued a $235.00 target price (up from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Barclays decreased their price target on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald upped their price objective on Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.89.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 17,750 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total value of $3,577,867.50. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer now directly owns 2,148,694 shares in the company, valued at $432,532,102.20. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is owned by insiders.

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.