Amazon.com, Inc. (NASDAQ:AMZN) is State of Michigan Retirement System's 4th Largest Position

State of Michigan Retirement System boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Kavar Capital Partners Group LLC grew its stake in shares of Amazon.com by 7.6% in 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 purchasing an additional 79 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of 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 worth $237,686,000 after purchasing an additional 13,060 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in shares of 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 worth $5,901,000 after purchasing an additional 15 shares in the last quarter. Markel Corp grew its stake in shares of Amazon.com by 0.6% in the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant's stock worth $322,956,000 after purchasing an additional 550 shares in the last quarter. Finally, Leelyn Smith LLC grew its stake in shares of Amazon.com by 24.8% in the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant's stock worth $8,870,000 after purchasing an additional 540 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Down 0.2 %

Shares of NASDAQ AMZN traded down $0.30 during mid-day trading on Tuesday, reaching $183.32. 32,849,145 shares of the company traded hands, compared to its average volume of 43,139,930. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The stock has a market cap of $1.91 trillion, a PE ratio of 63.21, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The company's fifty day moving average is $176.88 and its two-hundred day moving average is $156.19. Amazon.com, Inc. has a fifty-two week low of $101.15 and a fifty-two week high of $189.77.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.19. The business had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, analysts expect that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

Insider Activity

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now owns 116,560 shares of the company's stock, valued at approximately $18,150,723.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $180.73, for a total value of $632,555.00. Following the sale, the chief executive officer now owns 512,858 shares of the company's stock, valued at approximately $92,688,826.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 500 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,214,010 shares of company stock valued at $5,505,874,846. Insiders own 12.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMZN. BMO Capital Markets started coverage on Amazon.com in a research note on Tuesday, January 9th. They issued an "outperform" rating and a $200.00 price target for the company. JMP Securities upped their price objective on Amazon.com from $175.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Canaccord Genuity Group upped their price objective on Amazon.com from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Royal Bank of Canada upped their price objective on Amazon.com from $180.00 to $215.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Finally, Needham & Company LLC upped their price objective on Amazon.com from $175.00 to $205.00 and gave the company a "buy" rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of "Buy" and an average target price of $201.98.

About Amazon.com

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.