Independence Bank of Kentucky Has $15.46 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Independence Bank of Kentucky increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,265 shares of the e-commerce giant's stock after acquiring an additional 5,091 shares during the period. Amazon.com comprises 2.4% of Independence Bank of Kentucky's investment portfolio, making the stock its 6th biggest position. Independence Bank of Kentucky's holdings in Amazon.com were worth $15,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management acquired a new stake in Amazon.com during the fourth quarter worth approximately $35,000. Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC lifted its holdings in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Amazon.com from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Rosenblatt Securities upped their target price on shares of Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citizens Jmp cut their price target on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Tigress Financial raised their price target on Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and an average target price of $245.53.

Amazon.com Stock Performance

Shares of NASDAQ AMZN traded down $2.83 during mid-day trading on Friday, hitting $209.69. The company had a trading volume of 75,281,131 shares, compared to its average volume of 42,294,602. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.61 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The firm's 50 day simple moving average is $197.91 and its two-hundred day simple moving average is $209.34.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total transaction of $512,450.00. Following the completion of the transaction, the chief executive officer now directly owns 517,050 shares in the company, valued at approximately $105,984,909. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the transaction, the director now directly owns 5,465 shares of the company's stock, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,037 shares of company stock worth $20,531,075. Insiders own 9.70% of the company's stock.

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.