First County Bank CT Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

First County Bank CT has decreased its investment in Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission. After selling 2,401 shares, the bank now holds 25,168 shares of the major e-commerce company. Amazon.com represents approximately 2.5% of First County Bank CT's overall portfolio, making it the bank's 8th largest investment. As of the latest reporting period, the bank's shares in Amazon.com were valued at $4,864,000.

Several other institutional investors and hedge funds have also adjusted their positions in AMZN. For instance, Annex Advisory Services LLC increased its stake by 12.7% in the first quarter, now holding 172,590 shares valued at $31,132,000 after purchasing an additional 19,478 shares. Riverview Trust Co raised its holdings by 2.9%, owning 19,261 shares worth $3,474,000 after buying 534 shares. Furthermore, Fermata Advisors LLC expanded its investment by 12.4%, acquiring 16,292 shares valued at $2,939,000, while Bourne Lent Asset Management Inc. increased its position by 2.3%, bringing its total to 26,190 shares valued at $4,724,000 after buying 600 shares. Lastly, Retirement Planning Group LLC grew its investment by 29.6%, now owning 10,109 shares valued at $1,823,000 following an acquisition of 2,311 shares. Overall, institutional investors and hedge funds possess 72.20% of Amazon.com’s stock.

Recent Analyst Ratings

Several research firms have recently provided their insights on Amazon.com. Scotiabank started its coverage on October 11th, giving the company a "sector outperform" rating with a price target of $245.00. Similarly, the Royal Bank of Canada reaffirmed an "outperform" rating and set a target price of $215.00 in an August report. Wedbush also maintained an "outperform" rating while targeting $225.00 per share in an August report. Pivotal Research initiated coverage on October 11th with a "buy" rating and a price target of $260.00. Additionally, Sanford C. Bernstein raised its target from $210.00 to $215.00, maintaining an "outperform" rating. Currently, two analysts rate the stock as a hold, 42 recommend buying, and one has given a strong buy rating. According to MarketBeat, the stock is enjoying an average rating of "Moderate Buy" with an average price target of $236.78.

Insider Trading Activity

In related news, Amazon.com's Senior Vice President David Zapolsky sold 2,190 shares on September 24th at an average price of $195.00, totaling $427,050. Following this sale, Zapolsky owns 62,420 shares valued at approximately $12,171,900, which reflects no significant change in ownership. CEO Andrew R. Jassy also sold 20,784 shares on August 21st for a total value of $3,757,123.68, retaining direct ownership of 2,056,534 shares valued at $371,759,651.18, again showing no net change in ownership postsale. Over the past three months, insiders have sold a total of 54,355 shares of company stock valued at nearly $9.88 million, with insiders holding 10.80% of the stock currently.

Amazon.com Stock Overview

On Friday, Amazon.com shares opened at $187.83. The company's financial ratios include a current ratio of 1.10, a quick ratio of 0.88, and a debt-to-equity ratio of 0.23. Overall, Amazon.com has a market capitalization of $1.95 trillion, with a price-to-earnings ratio of 52.61 and a PEG ratio of 1.38, indicating moderate growth. The company’s stock has experienced a range within the last twelve months, hitting a low of $118.35 and a high of $201.20.

Amazon.com last released its quarterly earnings on August 1st, where it reported earnings per share (EPS) of $1.23, surpassing analysts' expectations of $1.05 by $0.18. The company showed a return on equity of 21.39% and a net margin of 7.35%, with revenues listed at $147.98 billion versus the consensus estimate of $148.63 billion. Analysts predict that Amazon.com will report earnings per share of 4.85 for the current fiscal year.

About Amazon.com, Inc.

Amazon.com, Inc. engages in the retail sale of a wide range of consumer products, offerings in advertising, and subscription services through both online and physical stores. The company operates in multiple segments, including North America, International, and Amazon Web Services (AWS). In addition, it manufactures and sells electronic devices such as Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero, while also developing and producing various media content.

Amazon, Investment, Insider, Stocks, Earnings