Municipal Employees Retirement System of Michigan Purchases 220 Shares of Amazon.com, Inc. (AMZN)
Municipal Employees Retirement System of Michigan raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,970 shares of the e-commerce giant’s stock after purchasing an additional 220 shares during the quarter. Amazon.com accounts for about 0.8% of Municipal Employees Retirement System of Michigan’s investment portfolio, making the stock its 3rd largest position. Municipal Employees Retirement System of Michigan’s holdings in Amazon.com were worth $15,459,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AMZN. State Street Corp lifted its holdings in Amazon.com by 1.1% during the first quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after purchasing an additional 186,756 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Amazon.com in the first quarter worth $157,189,000. Canada Pension Plan Investment Board lifted its holdings in shares of Amazon.com by 401.7% in the first quarter. Canada Pension Plan Investment Board now owns 158,030 shares of the e-commerce giant’s stock worth $140,100,000 after buying an additional 126,534 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Amazon.com by 11.9% in the first quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock worth $783,286,000 after buying an additional 93,757 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Amazon.com by 893.7% in the first quarter. Bank of Nova Scotia now owns 91,200 shares of the e-commerce giant’s stock worth $80,853,000 after buying an additional 82,022 shares in the last quarter. 60.77% of the stock is currently owned by institutional investors and hedge funds.
Amazon.com, Inc. (NASDAQ AMZN) opened at 980.85 on Friday. Amazon.com, Inc. has a 52-week low of $710.10 and a 52-week high of $1,083.31. The firm has a market capitalization of $471.18 billion, a P/E ratio of 249.45 and a beta of 1.47. The firm has a 50-day moving average price of $965.30 and a 200 day moving average price of $960.34.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($1.00). The firm had revenue of $37.96 billion during the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.78 earnings per share. Analysts forecast that Amazon.com, Inc. will post $3.66 EPS for the current year.
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In other news, CEO Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $955.20, for a total value of $2,674,560.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $9,552,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total value of $536,666.88. Following the completion of the transaction, the vice president now owns 6,533 shares in the company, valued at $6,444,935.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,083 shares of company stock worth $8,874,850. Company insiders own 17.70% of the company’s stock.
AMZN has been the topic of several research analyst reports. Loop Capital reissued a “buy” rating on shares of Amazon.com in a report on Thursday, June 8th. Deutsche Bank AG reissued a “buy” rating on shares of Amazon.com in a report on Monday, June 12th. Piper Jaffray Companies boosted their target price on shares of Amazon.com from $1,050.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, June 12th. Vetr raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $1,023.89 target price on the stock in a report on Monday, June 12th. Finally, BidaskClub downgraded shares of Amazon.com from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1,109.80.
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 Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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