State of Alaska Department of Revenue Has $20.96 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

State of Alaska Department of Revenue reduced its position in Amgen Inc. (NASDAQ:AMGN) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 72,786 shares of the medical research company’s stock after selling 3,740 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amgen were worth $20,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC raised its position in Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares in the last quarter. Norges Bank acquired a new stake in Amgen during the fourth quarter valued at approximately $1,351,778,000. Price T Rowe Associates Inc. MD grew its stake in shares of Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock valued at $774,791,000 after purchasing an additional 1,806,456 shares during the period. Morgan Stanley raised its holdings in shares of Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Amgen by 164.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after buying an additional 832,885 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James assumed coverage on Amgen in a research report on Thursday. They issued a “market perform” rating on the stock. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Morgan Stanley cut their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, UBS Group dropped their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $295.30.

Amgen Trading Down 0.7 %

Amgen stock traded down $1.98 during trading hours on Friday, reaching $284.32. 2,289,919 shares of the company’s stock traded hands, compared to its average volume of 3,134,154. The firm has a market capitalization of $152.37 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.70 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm’s 50 day moving average is $289.68 and its 200-day moving average is $280.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the business posted $4.09 earnings per share. Amgen’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. Amgen’s dividend payout ratio is currently 72.06%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.