Eastern Bank Has $159.89 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Eastern Bank reduced its Amazon stake by 4.6% in the second quarter, selling 32,215 shares and retaining 670,857 shares valued at approximately $159.9 million. Amazon remains 2.4% of the bank’s portfolio and its 10th-largest position.
• Analysts remain broadly bullish on Amazon. The stock carries a “Moderate Buy” consensus rating and an average price target of $322.56, while recent targets range as high as $330.
• Amazon reported strong quarterly results, with revenue rising 19.6% year over year to $200.61 billion and EPS of $5.75 versus the $1.82 consensus estimate. However, concerns include retail-demand softness, heavy AI infrastructure spending and debt, insider selling, and reputational risks tied to Twitch’s AI-training practices.

Eastern Bank trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,857 shares of the e-commerce giant's stock after selling 32,215 shares during the quarter. Amazon.com makes up approximately 2.4% of Eastern Bank's holdings, making the stock its 10th biggest position. Eastern Bank's holdings in Amazon.com were worth $159,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after acquiring an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock worth $6,357,000 after buying an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new stake in shares of Amazon.com during the fourth quarter worth $2,153,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $320.00 price target (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Canaccord Genuity Group raised their price target on shares of Amazon.com from $300.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Mizuho set a $330.00 target price on Amazon.com and gave the stock an "outperform" rating in a research note on Friday, July 31st. China Renaissance upped their price target on shares of Amazon.com from $300.00 to $326.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Arete Research increased their price objective on Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and an average target price of $322.56.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Institutional buying supports sentiment. Thrive Capital disclosed a roughly $215 million Amazon position, while Baupost Group added 625,100 shares and Dodge & Cox increased its holding by approximately 1.6 million shares. Thrive Capital discloses Amazon stake
• Positive Sentiment: AWS remains the central bullish catalyst. Commentary points to accelerating AWS growth for five consecutive quarters, a substantial backlog and customer demand extending into 2028. Amazon Web Services also became AppFolio’s preferred cloud provider, adding evidence of enterprise demand. AppFolio selects AWS
• Positive Sentiment: New growth opportunities are expanding. Amazon won a Space Force communications contract, while its AI infrastructure spending is helping drive demand for data-center and semiconductor suppliers. Analysts cited in recent coverage remain bullish on both Amazon and Alphabet. Amazon wins Space Force contract
• Neutral Sentiment: Valuation remains a debate. Amazon is viewed favorably versus some large-cap peers, but coverage notes that its forward earnings multiple is higher than its trailing multiple. That may reflect expected earnings growth, though it leaves less room for execution disappointments.
• Negative Sentiment: Retail data raised demand concerns. U.S. retail sales fell in July, with online spending declining after Amazon’s summer sales event. Higher fuel and operating costs may also pressure big-box retailers and consumer purchasing power. July retail sales decline
• Negative Sentiment: AI investment brings financial and execution risk. Amazon and other hyperscalers are issuing significant debt to fund infrastructure expansion, increasing concerns about returns on spending and potential pressure on future profits. Amazon’s lack of a dividend may also limit appeal for income-focused investors.
• Negative Sentiment: Twitch backlash adds reputational risk. Twitch’s decision to use livestream content for Amazon AI training, with the feature reportedly enabled automatically, has angered creators and could create privacy, regulatory and user-retention concerns. Twitch AI data-sharing backlash

Amazon.com Price Performance

NASDAQ:AMZN opened at $262.65 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The stock's 50-day moving average price is $247.91 and its 200-day moving average price is $238.66. The stock has a market capitalization of $2.83 trillion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company had revenue of $200.61 billion during the quarter, compared to analysts' expectations of $197.03 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. Amazon.com's quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts expect that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 6,370 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.39, for a total value of $1,671,424.30. Following the sale, the chief executive officer owned 486,527 shares of the company's stock, valued at approximately $127,659,819.53. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. The trade was a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 62,650 shares of company stock worth $16,535,457. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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