Penobscot Wealth Management Has $535,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Penobscot Wealth Management decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,673 shares of the e-commerce giant’s stock after selling 63 shares during the period. Penobscot Wealth Management’s holdings in Amazon.com were worth $535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cooksen Wealth LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $30,000. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth $46,000. Christopher J. Hasenberg Inc raised its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Steph & Co. bought a new position in shares of Amazon.com during the first quarter valued at about $65,000. Finally, Advantage Trust Co purchased a new position in Amazon.com during the fourth quarter worth about $68,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 1.2 %

Shares of NASDAQ AMZN opened at $193.88 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $178.57 and a 200-day moving average of $182.22. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Sell-side analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 1,228,993 shares of Amazon.com stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the sale, the insider now owns 930,696,284 shares of the company’s stock, valued at $186,474,307,462.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jeffrey P. Bezos sold 1,463,437 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $200.08, for a total transaction of $292,804,474.96. Following the transaction, the insider now owns 935,211,842 shares of the company’s stock, valued at approximately $187,117,185,347.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the sale, the insider now directly owns 930,696,284 shares of the company’s stock, valued at $186,474,307,462.24. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last 90 days. 10.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus cut their target price on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. TD Cowen boosted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Barclays raised their target price on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Buy” and an average target price of $222.84.

Amazon.com Company 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.