Washington Trust Bank Purchases 1,991 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Washington Trust Bank increased its holdings in Amazon.com by 1.6%, owning a total of 126,022 shares, valued at approximately $23.98 million, making it the bank's 7th largest holding.
• In the latest earnings report, Amazon.com posted an EPS of $1.68, exceeding analyst expectations of $1.31, and achieved a revenue of $167.70 billion for the quarter, up 13.3% from the previous year.
• Amazon's stock has experienced an 8.3% decline, opening at $214.75, with a market capitalization of $2.28 trillion and a PE ratio of 32.74.

Washington Trust Bank boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,022 shares of the e-commerce giant's stock after purchasing an additional 1,991 shares during the quarter. Amazon.com makes up 2.4% of Washington Trust Bank's portfolio, making the stock its 7th biggest holding. Washington Trust Bank's holdings in Amazon.com were worth $23,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMZN. Norges Bank acquired a new stake in Amazon.com during the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC raised its stake in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after buying an additional 30,104,520 shares in the last quarter. Capital World Investors raised its stake in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after buying an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. raised its stake in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. Finally, Capital International Investors raised its stake in Amazon.com by 26.5% during the fourth 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 in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 25,099,537 shares of company stock worth $5,674,394,548 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Down 8.3%

Shares of NASDAQ:AMZN traded down $19.36 during midday trading on Friday, hitting $214.75. 122,007,379 shares of the stock were exchanged, compared to its average volume of 43,924,596. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The business's fifty day simple moving average is $218.20 and its two-hundred day simple moving average is $209.11. The company has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.57 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same period last year, the company earned $1.26 earnings per share. Amazon.com's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Pivotal Research increased their price target on Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday. Westpark Capital reiterated a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday. JPMorgan Chase & Co. increased their price target on Amazon.com from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday. Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, Cantor Fitzgerald raised their target price on Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $262.45.

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.