Amazon Com Holdings Increase for Independence Bank of Kentucky

Independence Bank of Kentucky has increased its stake in Amazon.com by 3.4% in the second quarter, according to a recent disclosure with the SEC. The fund now owns 96,122 shares of Amazon's stock, making it about 2.6% of its investment portfolio and the company's eighth largest holding. This significant position is valued at $22.9 million.

In addition to Independence Bank of Kentucky, several other institutional investors have also modified their holdings in Amazon.com during the second quarter. Trust Asset Management LLC grew its stake by 3.3%, while Bard Associates Inc., Longfellow Investment Management Co. LLC, and Lifetime Wealth Management P.C. acquired new positions in Amazon's stock.

Wall Street analysts remain bullish on Amazon's prospects, with multiple firms revising their price targets upwards. TD Cowen reaffirmed a 'buy' rating and set a $350 target price for Amazon.com, while Barclays reiterated an 'overweight' rating and issued a $365 price objective. Meanwhile, 56 analysts have assigned a 'Buy' rating to the stock.