Independence Bank of Kentucky Buys 4,405 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Independence Bank of Kentucky lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 48,736 shares of the e-commerce giant’s stock after buying an additional 4,405 shares during the quarter. Amazon.com accounts for approximately 2.6% of Independence Bank of Kentucky’s portfolio, making the stock its 5th biggest position. Independence Bank of Kentucky’s holdings in Amazon.com were worth $8,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Collective Family Office LLC raised its position in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after purchasing an additional 819 shares in the last quarter. Members Trust Co raised its position in Amazon.com by 8.9% in the 4th quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock valued at $638,000 after purchasing an additional 341 shares in the last quarter. Cherrydale Wealth Management LLC raised its position in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after purchasing an additional 675 shares in the last quarter. Tompkins Financial Corp raised its position in Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after purchasing an additional 2,273 shares in the last quarter. Finally, Nicholas Company Inc. raised its position in Amazon.com by 3.9% in the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after purchasing an additional 26,465 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AMZN. Morgan Stanley increased their price target on Amazon.com from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Roth Mkm reiterated a “buy” rating and issued a $210.00 price objective (up previously from $205.00) on shares of Amazon.com in a report on Wednesday, May 1st. Tigress Financial increased their price objective on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Truist Financial increased their price objective on Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Piper Sandler increased their price objective on Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $215.86.

Amazon.com Stock Performance

Shares of AMZN stock opened at $197.59 on Friday. The stock has a fifty day moving average price of $185.10 and a 200 day moving average price of $174.15. The stock has a market cap of $2.06 trillion, a PE ratio of 55.35, a P/E/G ratio of 1.43 and a beta of 1.15. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $200.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. Amazon.com’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. Sell-side analysts forecast that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The disclosure for this sale can be found here. Insiders sold a total of 69,548 shares of company stock valued at $12,774,204 over the last three months. 10.80% of the stock is currently owned by insiders.

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.