Municipal Employees’ Retirement System Of Michigan buys $9,192,678 stake in Amazon.com (AMZN)

Amazon.com (AMZN) : Municipal Employees’ Retirement System Of Michigan scooped up 280 additional shares in Amazon.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 13,640 shares of Amazon.com which is valued at $9,192,678.Amazon.com makes up approximately 0.61% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Other Hedge Funds, Including , Pillar Pacific Capital Management reduced its stake in AMZN by selling 360 shares or 2.91% in the most recent quarter. The Hedge Fund company now holds 12,007 shares of AMZN which is valued at $8,092,118. Amazon.com makes up approx 1.41% of Pillar Pacific Capital Management’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in AMZN by selling 3,375 shares or 12.32% in the most recent quarter. The Hedge Fund company now holds 24,012 shares of AMZN which is valued at $16,182,887. Amazon.com makes up approx 0.29% of Kornitzer Capital Management Inc Ks’s portfolio.Callahan Advisors boosted its stake in AMZN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 530 shares of Amazon.com which is valued at $349,583. Amazon.com makes up approx 0.10% of Callahan Advisors’s portfolio.Atwood Palmer Inc reduced its stake in AMZN by selling 135 shares or 31.03% in the most recent quarter. The Hedge Fund company now holds 300 shares of AMZN which is valued at $197,877. Amazon.com makes up approx 0.04% of Atwood Palmer Inc’s portfolio.Sumitomo Life Insurance Co boosted its stake in AMZN in the latest quarter, The investment management firm added 476 additional shares and now holds a total of 18,117 shares of Amazon.com which is valued at $11,949,792. Amazon.com makes up approx 1.55% of Sumitomo Life Insurance Co’s portfolio.

Amazon.com opened for trading at $694 and hit $704.55 on the upside on Tuesday, eventually ending the session at $703.07, with a gain of 3.43% or 23.32 points. The heightened volatility saw the trading volume jump to 61,05,570 shares. Company has a market cap of $331,728 M.

On the company’s financial health, Amazon.com reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.47 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.60. The company had revenue of $29128.00 million for the quarter.The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by Axiom Capital on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 811 from a previous price target of $797 .Company shares were Reiterated by UBS on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 785 from a previous price target of $720 .Company shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 810 from a previous price target of $685 .

Amazon.com Inc. (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices including Kindle e-readers Fire tablets Fire TVs Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.

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