Eastern Bank Has $52.03 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Eastern Bank grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 342,404 shares of the e-commerce giant’s stock after buying an additional 5,422 shares during the quarter. Amazon.com makes up 2.4% of Eastern Bank’s holdings, making the stock its 6th biggest holding. Eastern Bank’s holdings in Amazon.com were worth $52,025,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMZN. PayPay Securities Corp boosted its position in Amazon.com by 54.3% during the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after buying an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 86 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Amazon.com during the fourth quarter worth $57,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Amazon.com in the third quarter worth $49,000. Finally, AM Squared Ltd acquired a new stake in Amazon.com in the third quarter valued at $76,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the transaction, the chief executive officer now owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the transaction, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $180.73, for a total transaction of $632,555.00. Following the sale, the chief executive officer now owns 512,858 shares of the company’s stock, valued at approximately $92,688,826.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,214,010 shares of company stock worth $5,505,889,146. 10.30% of the stock is owned by company insiders.

Amazon.com Stock Down 1.7 %

Amazon.com stock opened at $173.67 on Friday. Amazon.com, Inc. has a fifty-two week low of $101.15 and a fifty-two week high of $189.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The firm’s 50-day simple moving average is $177.79 and its 200 day simple moving average is $158.23. The stock has a market cap of $1.80 trillion, a PE ratio of 59.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. The firm had revenue of $169.96 billion for the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. Research analysts predict that Amazon.com, Inc. will post 4.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on Amazon.com from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research note on Wednesday. Truist Financial increased their target price on shares of Amazon.com from $195.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Oppenheimer boosted their price target on shares of Amazon.com from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Evercore ISI lifted their target price on shares of Amazon.com from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $205.13.

Amazon.com Company 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.