Patten & Patten Inc. TN Buys 6,902 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Patten & Patten Inc. TN raised its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 22.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 37,838 shares of the e-commerce giant's stock after purchasing an additional 6,902 shares during the period. Patten & Patten Inc. TN's holdings in Amazon.com were worth $7,050,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of 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 purchasing an additional 1,042,177 shares during the period. Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% during 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 acquiring an additional 289,532 shares during the period. Ameriprise Financial Inc. lifted its holdings in Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant's stock worth $7,917,906,000 after acquiring an additional 1,329,150 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant's stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Amazon.com by 1.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant's stock valued at $6,161,579,000 after purchasing an additional 464,938 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company's stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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 insiders.

Amazon.com Stock Up 0.7 %

NASDAQ AMZN traded up $1.63 during trading on Friday, reaching $224.92. 87,060,734 shares of the company's stock were exchanged, compared to its average volume of 41,415,395. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company's fifty day simple moving average is $205.83 and its 200-day simple moving average is $191.30. The firm has a market capitalization of $2.37 trillion, a PE ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16.

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

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent research reports. Sanford C. Bernstein raised their price target on Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday. Loop Capital boosted their price target on shares of Amazon.com from $225.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Amazon.com in a report on Tuesday, December 10th. UBS Group boosted their target price on shares of Amazon.com from $230.00 to $264.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and a consensus price target of $243.00.

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.