State Treasurer State of Michigan increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 171,202 shares of the e-commerce giant’s stock after buying an additional 300 shares during the period. Amazon.com accounts for 1.3% of State Treasurer State of Michigan’s holdings, making the stock its 15th largest position. State Treasurer State of Michigan’s holdings in Amazon.com were worth $165,724,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. OLD Second National Bank of Aurora increased its stake in Amazon.com by 15.0% in the first quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock worth $102,000 after buying an additional 15 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in Amazon.com during the fourth quarter worth approximately $113,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in Amazon.com during the second quarter worth approximately $116,000. Lipe & Dalton acquired a new stake in Amazon.com during the first quarter worth approximately $124,000. Finally, Arcadia Investment Management Corp MI increased its stake in Amazon.com by 43.7% in the first quarter. Arcadia Investment Management Corp MI now owns 171 shares of the e-commerce giant’s stock worth $152,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 62.17% of the company’s stock.

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded up 1.18% during trading on Friday, reaching $968.19. The company’s stock had a trading volume of 2,402,449 shares. The company’s 50-day moving average price is $999.07 and its 200 day moving average price is $925.01. Amazon.com, Inc. has a 1-year low of $710.10 and a 1-year high of $1,083.31. The stock has a market capitalization of $465.10 billion, a price-to-earnings ratio of 246.23 and a beta of 1.48.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by $1.00. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The business had revenue of $37.96 billion during the quarter, compared to analyst estimates of $37.18 billion. During the same period last year, the company earned $1.78 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post $3.83 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was posted by Daily Political and is the property of of Daily Political. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/11/state-treasurer-state-of-michigan-has-165-72-million-stake-in-amazon-com-inc-nasdaqamzn.html.

AMZN has been the topic of a number of research analyst reports. Loop Capital restated a “buy” rating and issued a $1,100.00 target price on shares of Amazon.com in a research report on Wednesday, April 19th. Macquarie restated a “buy” rating and issued a $995.00 target price on shares of Amazon.com in a research report on Tuesday, April 18th. Maxim Group restated a “buy” rating and issued a $1,000.00 target price (up previously from $940.00) on shares of Amazon.com in a research report on Thursday, April 20th. Stifel Nicolaus restated a “buy” rating and issued a $1,025.00 target price on shares of Amazon.com in a research report on Monday, April 24th. Finally, Instinet lifted their target price on Amazon.com from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the stock. Amazon.com currently has an average rating of “Buy” and a consensus target price of $1,065.61.

In other Amazon.com news, CEO Jeffrey A. Wilke sold 710 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $987.39, for a total transaction of $701,046.90. Following the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $9,873,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey A. Wilke sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $969.73, for a total transaction of $3,878,920.00. Following the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at $9,697,300. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock valued at $10,800,023 in the last three months. Company insiders own 17.70% of the company’s stock.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN).

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Receive News & Ratings for Amazon.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.