Independence Bank of Kentucky Boosts Holdings in Amazon.com, Inc. $AMZN

Key Points

• Independence Bank of Kentucky increased its Amazon position by 3.4% in the second quarter, bringing its holdings to 96,122 shares valued at approximately $22.91 million. Amazon now represents about 2.6% of the bank’s portfolio.
• Institutional and hedge-fund ownership of Amazon stands at 72.2%, while analysts maintain a favorable outlook with a consensus “Moderate Buy” rating and an average price target of $321.63.
• Amazon reported quarterly results well above expectations, with $5.75 in earnings per share and $200.61 billion in revenue, while AWS chip and energy agreements support its longer-term AI and data-center expansion.

Independence Bank of Kentucky raised its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,122 shares of the e-commerce giant's stock after acquiring an additional 3,142 shares during the quarter. Amazon.com makes up about 2.6% of Independence Bank of Kentucky's investment portfolio, making the stock its 8th largest holding. Independence Bank of Kentucky's holdings in Amazon.com were worth $22,910,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Trust Asset Management LLC grew its holdings in Amazon.com by 3.3% during the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant's stock worth $26,000 after purchasing an additional 3,414 shares during the period. Bard Associates Inc. bought a new stake in Amazon.com in the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Amazon.com in the second quarter valued at approximately $33,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $45,000. Finally, Prudent Man Investment Management Inc. lifted its position in shares of Amazon.com by 87.7% in the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after buying an additional 107 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Rosenblatt raised its price target to $360 from $335 and maintained a Buy rating, implying roughly 46% upside. The firm said concerns that Meta’s Muse and OpenAI’s Dots could displace Amazon’s retail and advertising businesses are overstated. How Amazon’s stock can fight off the AI threat and soar 46%
• Positive Sentiment: AWS agreed to a multiyear Synopsys deal worth more than $1 billion to license chip-design technology. The agreement should support Amazon’s Trainium and Graviton custom-chip efforts, potentially reducing its reliance on Nvidia processors and improving AWS economics over time. Synopsys, Amazon Web Services sign chip design licensing deal
• Positive Sentiment: Amazon signed a 20-year nuclear power agreement with Constellation Energy supporting expansion of Maryland’s Calvert Cliffs plant. The deal could help secure reliable, low-carbon electricity for Amazon’s growing data-center and AI infrastructure needs. Constellation, Amazon sign 20-year power deal
• Positive Sentiment: New consumer products and services provided additional support. Amazon launched a faster Fire TV Stick 4K with expanded Alexa+ functionality and introduced shipping tools intended to lower delivery costs for sellers of bulky products. These initiatives could support device engagement, retail activity, and marketplace participation. Amazon stock rallies on new Alexa and Fire TV abilities

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent analyst reports. Wolfe Research reissued an "outperform" rating and set a $315.00 target price on shares of Amazon.com in a report on Friday, July 31st. UBS Group set a $200.00 price target on Amazon.com in a report on Thursday, September 17th. TD Cowen reaffirmed a "buy" rating and set a $350.00 price objective (up from $340.00) on shares of Amazon.com in a research report on Friday, July 31st. Barclays reiterated an "overweight" rating and issued a $365.00 price objective (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Finally, Telsey Advisory Group set a $335.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a research report on Friday, July 31st. Fifty-six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Amazon.com currently has an average rating of "Moderate Buy" and a consensus target price of $321.63.

Amazon.com Trading Up 1.0%

Shares of AMZN stock opened at $249.15 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.69 trillion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44. The stock has a 50 day simple moving average of $256.38 and a 200 day simple moving average of $247.94. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. The firm had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company's revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. On average, research analysts predict that Amazon.com, Inc. will post 8.01 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Shelley Reynolds sold 2,343 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $606,860.43. Following the completion of the transaction, the vice president owned 119,780 shares of the company's stock, valued at $31,024,217.80. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the sale, the chief executive officer directly owned 2,235,766 shares of the company's stock, valued at $579,085,751.66. This represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 70,589 shares of company stock worth $18,329,015. 8.90% of the stock is owned by insiders.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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