Amazon.com, Inc. (NASDAQ:AMZN) Holdings Boosted by State of Michigan Retirement System

State of Michigan Retirement System grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,972,620 shares of the e-commerce giant’s stock after purchasing an additional 20,700 shares during the quarter. Amazon.com makes up about 2.7% of State of Michigan Retirement System’s holdings, making the stock its 4th largest position. State of Michigan Retirement System’s holdings in Amazon.com were worth $451,660,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kavar Capital Partners Group LLC boosted its stake in shares of Amazon.com by 7.6% during the first quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after buying an additional 79 shares during the period. IFM Investors Pty Ltd lifted its position in Amazon.com by 21.8% in the first quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock valued at $237,686,000 after purchasing an additional 13,060 shares during the period. Ironwood Wealth Management LLC. lifted its position in Amazon.com by 0.8% in the first quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock valued at $5,901,000 after purchasing an additional 15 shares during the period. Markel Corp lifted its position in Amazon.com by 0.6% in the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock valued at $322,956,000 after purchasing an additional 550 shares during the period. Finally, Leelyn Smith LLC lifted its position in Amazon.com by 24.8% in the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock valued at $8,870,000 after purchasing an additional 540 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 1.3 %

Shares of AMZN opened at $183.62 on Tuesday. The firm has a market cap of $1.91 trillion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The company’s fifty day moving average is $176.60 and its two-hundred day moving average is $155.79. Amazon.com, Inc. has a fifty-two week low of $101.15 and a fifty-two week high of $189.77. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. Amazon.com’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. Analysts forecast that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on AMZN. Moffett Nathanson restated a “buy” rating and issued a $228.00 price objective on shares of Amazon.com in a research report on Thursday, April 11th. JMP Securities raised their price objective on shares of Amazon.com from $175.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Mizuho increased their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Roth Mkm increased their target price on shares of Amazon.com from $180.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI increased their target price on shares of Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $201.43.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares in the company, valued at approximately $24,214,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $20,239,226.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares in the company, valued at approximately $24,214,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,214,010 shares of company stock worth $5,505,874,846. 12.70% of the stock is currently owned by corporate insiders.

Amazon.com 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.