BlackRock Amends AMWL Stake, Maintains Passive Position

TL;DR

**BlackRock still owns a big chunk of American Well Corp, but it's a passive stake.**

AI Summary

BlackRock, Inc. filed an amended SC 13G/A on January 25, 2024, indicating its ownership in American Well Corp (AMWL) as of December 31, 2023. This filing, an amendment to a previous one, shows BlackRock continues to hold a significant, though passive, stake in the telehealth company. This matters to investors because BlackRock is a major institutional investor, and its continued holding signals a long-term, passive interest in American Well Corp's performance.

Why It Matters

This filing confirms BlackRock's ongoing, substantial, but passive investment in American Well Corp, which can be seen as a vote of confidence from a major institutional investor.

Risk Assessment

Risk Level: low — This is a routine amendment from a large institutional investor, indicating a passive stake, and does not suggest any immediate risk or significant change in company control.

Analyst Insight

Investors should note that a major institutional investor like BlackRock maintains a passive stake, suggesting a long-term, hands-off investment perspective rather than an active push for change. This filing doesn't indicate any immediate catalysts for the stock.

Key Players & Entities

• BlackRock, Inc. (company) — the reporting person and institutional investor
• American Well Corp (company) — the subject company (issuer) of the securities
• December 31, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the filing date of the SC 13G/A amendment

Forward-Looking Statements

• BlackRock will likely maintain its passive investment in American Well Corp for the foreseeable future. (BlackRock, Inc.) — high confidence, target: 2025-12-31

FAQ

From the Filing

0001086364-24-003253.txt : 20240125 0001086364-24-003253.hdr.sgml : 20240125 20240125134852 ACCESSION NUMBER: 0001086364-24-003253 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: American Well Corp CENTRAL INDEX KEY: 0001393584 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-92157 FILM NUMBER: 24561072 BUSINESS ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 BUSINESS PHONE: 617-205-3500 MAIL ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us03044l1052_012524.txt us03044l1052_012524.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) American Well Corp -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 03044L105 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 03044L105 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 20636300 (6) Shared voting power 0 (7) Sole dispositive power 21512979 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 21512979 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 8.4% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- American Well Corp Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 75 STATE STREET, 26TH FLOOR Boston MA 02109 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: --