Amazon.com, Inc. (NASDAQ:AMZN) Shares Purchased by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System increased its holdings in Amazon.com by 0.8%, now owning 822,000 shares valued at approximately $156.4 million, representing 3.1% of its portfolio.
• Amazon reported $1.68 earnings per share for its recent quarter, exceeding expectations of $1.31, alongside revenues of $167.7 billion, up 13.3% year-over-year.
• Major equity research firms have issued positive ratings on Amazon, with average target prices ranging from $262.45 to $275.00, indicating strong investor confidence in the stock.

Louisiana State Employees Retirement System raised its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,000 shares of the e-commerce giant's stock after acquiring an additional 6,500 shares during the quarter. Amazon.com accounts for about 3.1% of Louisiana State Employees Retirement System's investment portfolio, making the stock its 4th largest holding. Louisiana State Employees Retirement System's holdings in Amazon.com were worth $156,394,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMZN. Northern Capital Management Inc. boosted its holdings in Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares during the period. Balanced Wealth Group LLC boosted its holdings in Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after purchasing an additional 48 shares during the period. ETF Store Inc. boosted its holdings in Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock worth $522,000 after purchasing an additional 48 shares during the period. Talisman Wealth Advisors LLC boosted its holdings in Amazon.com by 1.2% in the fourth quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant's stock worth $1,020,000 after purchasing an additional 53 shares during the period. Finally, SWAN Capital LLC boosted its holdings in Amazon.com by 3.1% in the fourth quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant's stock worth $396,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Amazon.com from $265.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Friday, August 1st. Pivotal Research raised their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Westpark Capital reiterated a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of "Buy" and an average target price of $262.45.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 25,101,037 shares of company stock worth $5,674,726,368. Insiders own 10.80% of the company's stock.

Amazon.com Stock Up 1.1%

NASDAQ:AMZN traded up $2.48 on Wednesday, hitting $223.95. 18,590,469 shares of the company's stock traded hands, compared to its average volume of 44,751,602. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The firm has a 50-day moving average price of $220.25 and a 200-day moving average price of $208.61. The company has a market cap of $2.39 trillion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.