Harbour Trust & Investment Management Co Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Harbour Trust & Investment Management Co increased its holdings in Amazon.com, Inc. by 28.8% during the 1st quarter, now owning 55,489 shares valued at approximately $10.6 million.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon for approximately $609 million, decreasing his ownership by 0.3% while still holding about 883.8 million shares.
• Wall Street analysts have raised their price targets for Amazon.com stock, with a consensus rating of "Moderate Buy" and an average target price of $254.33.

Harbour Trust & Investment Management Co lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 28.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,489 shares of the e-commerce giant's stock after purchasing an additional 12,416 shares during the quarter. Amazon.com accounts for 1.3% of Harbour Trust & Investment Management Co's portfolio, making the stock its 22nd largest position. Harbour Trust & Investment Management Co's holdings in Amazon.com were worth $10,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMZN. Vanguard Group Inc. grew its holdings 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 worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC grew its position in Amazon.com by 0.5% during the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $44,837,256,000 after purchasing an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 2.3% in the fourth 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 acquiring an additional 4,087,933 shares during the last quarter. Finally, Norges Bank acquired a new stake in Amazon.com in the fourth quarter valued at about $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. 9.70% of the stock is owned by corporate insiders.

Amazon.com Stock Down 0.4%

Shares of AMZN stock traded down $0.82 during mid-day trading on Wednesday, hitting $230.19. The company's stock had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 37.49, a PEG ratio of 1.71 and a beta of 1.33. The business has a 50-day moving average price of $217.31 and a 200 day moving average price of $209.12. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMZN shares. Morgan Stanley reiterated an "overweight" rating on shares of Amazon.com in a report on Monday. Telsey Advisory Group reissued an "outperform" rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, July 10th. Truist Financial boosted their price objective on Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Jefferies Financial Group upped their price objective on shares of Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $240.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.52.

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.