Independence Bank of Kentucky Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Independence Bank of Kentucky raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 29.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,533 shares of the e-commerce giant’s stock after buying an additional 15,656 shares during the quarter. Amazon.com accounts for 2.8% of Independence Bank of Kentucky’s investment portfolio, making the stock its 5th largest holding. Independence Bank of Kentucky’s holdings in Amazon.com were worth $12,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. Swedbank AB bought a new position in Amazon.com in the 1st quarter valued at $2,239,757,000. Capital World Investors grew its stake in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the period. Capital Research Global Investors grew its stake in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after purchasing an additional 3,903,889 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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 value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,859 shares of company stock worth $10,215,097 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Shares of AMZN stock opened at $210.05 on Friday. The firm has a market cap of $2.21 trillion, a P/E ratio of 44.98, a P/E/G ratio of 1.34 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $212.25. The business’s 50 day moving average price is $186.48 and its 200-day moving average price is $184.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. On average, equities research analysts anticipate that Amazon.com, Inc. will post 5.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Roth Mkm upped their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Piper Sandler increased their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their target price on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Pivotal Research began coverage on Amazon.com in a report 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 have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.55.

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.