Vestcor Inc Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Vestcor Inc increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,712 shares of the e-commerce giant’s stock after buying an additional 4,844 shares during the period. Amazon.com accounts for 1.6% of Vestcor Inc’s portfolio, making the stock its 5th largest position. Vestcor Inc’s holdings in Amazon.com were worth $49,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares during the period. Legal & General Group Plc boosted its stake in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday. Wedbush raised their price target on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Pivotal Research started coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Finally, Susquehanna upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.00.

Amazon.com Stock Down 4.6 %

Shares of AMZN stock opened at $220.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company’s fifty day moving average price is $204.37 and its 200-day moving average price is $190.75. The company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 47.22, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by company insiders.

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.