Kennebec Savings Bank Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Kennebec Savings Bank acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,541 shares of the e-commerce giant’s stock, valued at approximately $2,523,000. Amazon.com makes up about 2.5% of Kennebec Savings Bank’s investment portfolio, making the stock its 3rd largest holding.

Several other institutional investors have also modified their holdings of AMZN. Legal & General Group Plc boosted its holdings in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $13,091,909,000 after acquiring an additional 289,532 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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 valued at $7,917,906,000 after acquiring an additional 1,329,150 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of 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 worth $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position 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 worth $6,161,579,000 after purchasing an additional 464,938 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMZN shares. Rosenblatt Securities raised their price objective on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Pivotal Research started coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Telsey Advisory Group boosted their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Moffett Nathanson upped their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, DA Davidson reissued a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Stock Up 0.7 %

Shares of NASDAQ:AMZN opened at $224.92 on Friday. The firm has a market capitalization of $2.37 trillion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm’s 50-day moving average is $205.83 and its two-hundred day moving average is $191.30.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by company insiders.

About Amazon.com

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.