Watch Point Trust Co Has $5.49 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)
Watch Point Trust Co boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 26.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,897 shares of the e-commerce giant’s stock after purchasing an additional 604 shares during the period. Amazon.com makes up approximately 3.1% of Watch Point Trust Co’s investment portfolio, making the stock its 4th biggest holding. Watch Point Trust Co’s holdings in Amazon.com were worth $5,486,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMZN. Signet Investment Advisory Group Inc. purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $33,000. Financial Advantage Inc. purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $45,000. Litman Gregory Asset Management LLC purchased a new position in shares of Amazon.com during the second quarter worth approximately $53,000. Mascoma Wealth Management LLC increased its position in shares of Amazon.com by 15.6% during the fourth quarter. Mascoma Wealth Management LLC now owns 52 shares of the e-commerce giant’s stock worth $78,000 after acquiring an additional 7 shares during the period. Finally, Contravisory Investment Management Inc. increased its position in shares of Amazon.com by 20.6% during the second quarter. Contravisory Investment Management Inc. now owns 41 shares of the e-commerce giant’s stock worth $78,000 after acquiring an additional 7 shares during the period. 57.26% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Andrew R. Jassy sold 7,308 shares of Amazon.com stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $2,000.00, for a total transaction of $14,616,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,614 shares in the company, valued at $185,228,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Zapolsky sold 763 shares of Amazon.com stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $2,000.00, for a total transaction of $1,526,000.00. Following the sale, the insider now owns 2,698 shares of the company’s stock, valued at $5,396,000. The disclosure for this sale can be found here. Insiders have sold 14,570 shares of company stock valued at $27,690,021 over the last quarter. Insiders own 16.10% of the company’s stock.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 25th. The e-commerce giant reported $5.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.29 by ($0.07). Amazon.com had a return on equity of 26.27% and a net margin of 4.80%. The company had revenue of $63.40 billion for the quarter, compared to analyst estimates of $62.59 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts predict that Amazon.com, Inc. will post 24.52 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and set a $2,250.00 price objective (up from $2,200.00) on shares of Amazon.com in a report on Wednesday, July 24th. UBS Group reissued a “buy” rating on shares of Amazon.com in a report on Friday, July 26th. ValuEngine raised shares of Amazon.com from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Amazon.com in a report on Monday, July 29th. Finally, Pivotal Research reissued a “buy” rating and set a $2,615.00 price objective (down from $2,750.00) on shares of Amazon.com in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and forty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $2,251.95.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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