Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Welch & Forbes LLC

Welch & Forbes LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 532,722 shares of the e-commerce giant’s stock after purchasing an additional 11,255 shares during the quarter. Amazon.com makes up about 1.3% of Welch & Forbes LLC’s portfolio, making the stock its 23rd biggest holding. Welch & Forbes LLC’s holdings in Amazon.com were worth $101,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter worth $27,266,582,000. GAMMA Investing LLC raised its holdings in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares during the period. Capital World Investors raised its holdings in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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. Finally, Capital International Investors raised its holdings in Amazon.com by 26.5% in the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock valued at $12,564,961,000 after buying an additional 12,000,745 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.66 on Thursday. The firm has a market capitalization of $2.40 trillion, a P/E ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The business’s 50-day simple moving average is $220.60 and its 200-day simple moving average is $208.72.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at $111,114,850. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,096,253 shares of company stock worth $5,673,745,409 over the last 90 days. 9.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMZN. BMO Capital Markets boosted their price objective on shares of Amazon.com from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, August 1st. Rosenblatt Securities boosted their price objective on Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $262.45.

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.