State of Alaska Department of Revenue Purchases 6,900 Shares of Amgen Inc. (NASDAQ:AMGN)

State of Alaska Department of Revenue lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,686 shares of the medical research company’s stock after acquiring an additional 6,900 shares during the period. State of Alaska Department of Revenue’s holdings in Amgen were worth $22,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in Amgen in the fourth quarter worth approximately $29,000. United Community Bank bought a new stake in shares of Amgen in the fourth quarter worth $29,000. Planned Solutions Inc. purchased a new stake in Amgen during the fourth quarter valued at $30,000. Delos Wealth Advisors LLC increased its position in Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in Amgen by 56.9% in the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Mizuho upped their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. UBS Group lifted their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. TD Cowen decreased their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.35.

Amgen Trading Down 0.4 %

Shares of AMGN stock traded down $1.39 on Wednesday, reaching $309.38. 1,000,689 shares of the company’s stock were exchanged, compared to its average volume of 2,759,328. The company’s fifty day simple moving average is $303.09 and its 200 day simple moving average is $292.80. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock has a market capitalization of $165.96 billion, a PE ratio of 44.50, a P/E/G ratio of 2.82 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 EPS. As a group, analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

About Amgen

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.