State of Michigan Retirement System Has $693.16 Million Position in Amazon.com, Inc. $AMZN

Key Points

• State of Michigan Retirement System trimmed its Amazon stake by 2.5% in the fourth quarter, but still held 3,003,020 shares valued at about $693.16 million. Amazon remains its fourth-largest holding and makes up 3.4% of the portfolio.
• Amazon has seen generally bullish analyst sentiment, with multiple firms reiterating Buy/Outperform ratings and a current average target price of $312.67. Overall, 57 analysts rate the stock Buy and only three rate it Hold.
• The company posted strong quarterly results, with EPS of $2.78 beating estimates and revenue of $181.52 billion rising 16.6% year over year. Shares were also trading near $264.86, close to their 12-month high, despite some insider selling and a proposed class-action lawsuit adding headline risk.

State of Michigan Retirement System lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,003,020 shares of the e-commerce giant's stock after selling 77,900 shares during the quarter. Amazon.com makes up 3.4% of State of Michigan Retirement System's portfolio, making the stock its 4th biggest position. State of Michigan Retirement System's holdings in Amazon.com were worth $693,157,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fairway Wealth LLC raised its stake in shares of Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock worth $25,000 after acquiring an additional 60 shares in the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Amazon.com during the 3rd quarter worth approximately $27,000. Bridge Generations Wealth Management LLC raised its stake in shares of Amazon.com by 2,330.0% during the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 233 shares in the last quarter. Cooksen Wealth LLC raised its stake in shares of Amazon.com by 23.5% during the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock worth $54,000 after acquiring an additional 47 shares in the last quarter. Finally, Sagard Holdings Management Inc. bought a new position in shares of Amazon.com during the 2nd quarter worth approximately $79,000. Institutional investors own 72.20% of the company's stock.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Arete Research raised its price target on Amazon and reiterated a Buy rating, signaling continued upside expectations from current levels.
• Positive Sentiment: Amazon was highlighted as IBD’s Stock of the Day and a “Franchise Pick,” with investors focused on its approach toward the $3 trillion market-cap milestone.
• Positive Sentiment: Coverage around AWS emphasized strong AI demand, custom chip adoption, and Amazon’s growing role in the cloud AI boom, which may support revenue growth and sentiment.
• Positive Sentiment: News that Delta Air Lines defended Amazon’s Leo satellite broadband deal helped validate Amazon’s broader technology and connectivity ambitions.
• Neutral Sentiment: Several major hedge fund and billionaire portfolio updates showed mixed positioning in AMZN, with some managers adding and others trimming shares; this is more of a sentiment read than a direct fundamental catalyst.
• Neutral Sentiment: Amazon’s new Alexa+ feature that can generate podcast episodes adds to its consumer AI story, but the immediate financial impact appears limited.
• Negative Sentiment: Amazon is also facing a proposed class-action lawsuit over alleged tariff-related refund practices, which could add legal overhang and headline risk.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Daiwa Securities Group reduced their price objective on shares of Amazon.com from $300.00 to $280.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Wedbush reduced their price objective on shares of Amazon.com from $340.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, February 6th. Citigroup reiterated a "buy" rating and set a $325.00 price objective (up from $285.00) on shares of Amazon.com in a research note on Thursday, April 30th. Guggenheim reiterated a "buy" rating and set a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, TD Securities upgraded shares of Amazon.com to a "buy" rating in a research note on Monday, April 13th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $312.67.

Amazon.com Trading Up 0.3%

Shares of Amazon.com stock opened at $264.86 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The firm has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.98 and a beta of 1.46. The firm's 50 day simple moving average is $235.39 and its two-hundred day simple moving average is $230.94.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the prior year, the business posted $1.59 EPS. Amazon.com's revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 3,849 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $260.00, for a total value of $1,000,740.00. Following the sale, the director directly owned 78,654 shares of the company's stock, valued at $20,450,040. This represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the sale, the chief executive officer directly owned 471,361 shares in the company, valued at $129,624,275. This trade represents a 5.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 185,809 shares of company stock worth $45,132,239 in the last three months. 8.90% of the stock is owned by company insiders.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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