First Bancorp Inc ME Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

First Bancorp Inc ME lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,489 shares of the e-commerce giant’s stock after selling 70 shares during the period. Amazon.com makes up approximately 1.5% of First Bancorp Inc ME’s investment portfolio, making the stock its 14th largest holding. First Bancorp Inc ME’s holdings in Amazon.com were worth $2,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Swedbank AB acquired a new stake in shares of Amazon.com during the 1st quarter valued at about $2,239,757,000. Capital World Investors increased its stake in shares of 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 in the last quarter. Capital Research Global Investors raised its holdings 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 worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after purchasing an additional 3,903,889 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $204.61 on Wednesday. Amazon.com, Inc. has a 1 year low of $141.50 and a 1 year high of $215.90. The stock has a market capitalization of $2.15 trillion, a PE ratio of 43.81, a PEG ratio of 1.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a 50-day simple moving average of $192.19 and a 200-day simple moving average of $186.06.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMZN. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company downgraded shares of Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $225.00 to $183.00 in a research report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Bank of America increased their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Pivotal Research initiated coverage on 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 have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $235.45.

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.