State Treasurer State of Michigan Has $165.72 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)
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.
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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.
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.
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