First County Bank CT Reduces Amazon.com Shares

First County Bank CT has reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the second quarter, as stated in its latest 13F filing submitted to the Securities and Exchange Commission. After the sale of 2,401 shares during this period, the bank now owns a total of 25,168 shares in the e-commerce giant. This amount constitutes around 2.5% of First County Bank CT's total investment portfolio, ranking Amazon.com as its 8th largest holding. As of the close of the most recent reporting period, the value of First County Bank CT's investment in Amazon.com stood at approximately $4,864,000.

Other institutional investors and hedge funds have also been active with their investments in Amazon.com shares. Annex Advisory Services LLC increased its stake in the company by 12.7% during the first quarter, now holding 172,590 shares, valued at $31,132,000 after acquiring an additional 19,478 shares. Similarly, Riverview Trust Co enhanced its position by 2.9%, owning 19,261 shares worth $3,474,000 after adding 534 shares in the last quarter. Fermata Advisors LLC reported a 12.4% increase in its holdings, now owning 16,292 shares valued at $2,939,000 following an acquisition of 1,799 shares. Bourne Lent Asset Management Inc. raised its position by 2.3%, accumulating 26,190 shares with a value of $4,724,000, and Retirement Planning Group LLC grew its holdings significantly by 29.6%, bringing its total to 10,109 shares worth $1,823,000. Currently, institutional investors and hedge funds collectively own 72.20% of Amazon.com's stock.

Recent Analyst Ratings

A variety of research firms have expressed their opinions on Amazon.com stock. Scotiabank recently initiated coverage with a "sector outperform" rating and a target price set at $245.00. Meanwhile, Royal Bank of Canada reaffirmed its "outperform" rating and set a price target of $215.00. In the same spirit, Wedbush also reiterated an "outperform" rating with a price target of $225.00. Pivotal Research began its coverage on Amazon.com, issuing a "buy" rating alongside a target price of $260.00. On July 22nd, Sanford C. Bernstein raised its target price from $210.00 to $215.00 while maintaining an "outperform" rating. The stock has received two hold ratings, 42 buy ratings, and one strong buy rating from analysts, leading to an average rating of "Moderate Buy" with an average price target of $236.78 according to MarketBeat data.

Insider Trading Activity

In recent news related to Amazon.com, an insider named David Zapolsky, Senior Vice President, sold 2,190 shares on September 24th for an average price of $195.00, totaling $427,050. Post-sale, Zapolsky now holds 62,420 shares valued at $12,171,900, marking no change in ownership percentage. Additionally, CEO Andrew R. Jassy sold 20,784 shares on August 21st, achieving $3,757,123.68 from these shares sold at an average price of $180.77. Jassy's remaining shares total 2,056,534 with a worth of about $371,759,651.18, also indicating no change in ownership percentage. In total, within the past ninety days, insiders have sold 54,355 shares valued at $9,877,423, with insiders currently owning 10.80% of Amazon.com's stock.

Current Stock Performance

As of the last trading session, Amazon.com shares opened at $187.83. The company holds a current ratio of 1.10, a quick ratio of 0.88, and a debt-to-equity ratio of 0.23. It has a market capitalization of $1.95 trillion, a P/E ratio of 52.61, a PEG ratio of 1.38, and a beta of 1.14. The stock's 50-day moving average and 200-day moving average stand at $183.50 and $183.56, respectively. Over the past year, Amazon.com’s stock has experienced a low of $118.35 and a high of $201.20.

Amazon.com, Inc. last reported its earnings results on August 1st, delivering an earnings per share (EPS) of $1.23, which exceeded analysts' expectations of $1.05 by $0.18. The company noted a return on equity of 21.39% alongside a net margin of 7.35%. Revenue for the quarter reached $147.98 billion, slightly below the consensus estimate of $148.63 billion. Analysts predict that Amazon.com, Inc. will report an EPS of 4.85 for the current fiscal year.

About Amazon.com

Amazon.com, Inc. is involved in the retail sale of consumer products, advertising, and subscriptions through both online and physical stores across North America and globally. The company is segmented into three main areas: North America, International, and Amazon Web Services (AWS). Additionally, Amazon.com manufactures and sells electronic devices such as Kindle e-readers, Fire tablets, Fire TVs, Echo devices, Ring cameras, Blink security cameras, and eero routers, as well as develops and produces media content.

Amazon, Investments, Shares