Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,877 shares of the e-commerce giant’s stock after purchasing an additional 5,141 shares during the period. Amazon.com makes up approximately 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 $10,412,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cooksen Wealth LLC acquired a new position in Amazon.com in the fourth quarter valued at about $30,000. Clarity Asset Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at about $46,000. Steph & Co. acquired a new position in Amazon.com in the first quarter valued at about $65,000. Advantage Trust Co acquired a new position in Amazon.com in the fourth quarter valued at about $68,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in Amazon.com in the first quarter valued at about $69,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on AMZN shares. Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Truist Financial boosted their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group reduced their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Morgan Stanley reduced their price objective on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com has an average rating of “Buy” and a consensus target price of $222.49.

Insider Transactions at Amazon.com

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $184.89 on Tuesday. The firm has a market cap of $1.92 trillion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The business’s 50 day moving average is $179.22 and its 200-day moving average is $181.74.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

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.