Ledyard National Bank Decreases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Ledyard National Bank lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 97,996 shares of the e-commerce giant’s stock after selling 1,028 shares during the quarter. Amazon.com comprises approximately 1.7% of Ledyard National Bank’s investment portfolio, making the stock its 11th biggest position. Ledyard National Bank’s holdings in Amazon.com were worth $18,260,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB acquired a new stake in Amazon.com in the 1st quarter worth about $2,239,757,000. Capital World Investors increased its stake in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMZN shares. Roth Mkm increased their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group increased their target price on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company restated an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a research report on Wednesday. Piper Sandler increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $236.00 target price (up from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $235.77.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock worth $1,249,093,896 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of AMZN opened at $197.12 on Friday. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 42.21, a PEG ratio of 1.33 and a beta of 1.14. The firm’s fifty day simple moving average is $193.00 and its 200-day simple moving average is $186.31. Amazon.com, Inc. has a twelve month low of $142.81 and a twelve month high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

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.