Ledyard National Bank Sells 2,854 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Ledyard National Bank lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,756 shares of the e-commerce giant’s stock after selling 2,854 shares during the quarter. Amazon.com accounts for approximately 1.7% of Ledyard National Bank’s portfolio, making the stock its 14th largest position. Ledyard National Bank’s holdings in Amazon.com were worth $17,457,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter worth $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter worth $35,000. Perritt Capital Management Inc raised its stake in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $40,000. Finally, Capitol Family Office Inc. bought a new stake in shares of Amazon.com during the 1st quarter worth $42,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 0.3%

Shares of Amazon.com stock opened at $226.35 on Wednesday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock has a 50 day moving average of $211.52 and a 200 day moving average of $208.50. The firm has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during 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 company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,442,187 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $225.89, for a total transaction of $551,665,621.43. Following the sale, the insider owned 895,279,901 shares of the company’s stock, valued at $202,234,776,836.89. The trade was a 0.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,602,037 shares of company stock worth $3,044,172,641 in the last quarter. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMZN. Raymond James Financial reiterated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. DA Davidson dropped their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada dropped their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Evercore ISI dropped their price objective on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Tigress Financial upped their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.42.

Amazon.com Company Profile

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.