State of Alaska Department of Revenue decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,440 shares of the medical research company’s stock after selling 1,050 shares during the period. State of Alaska Department of Revenue’s holdings in Amgen were worth $892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Amgen by 0.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 58,199 shares of the medical research company’s stock valued at $9,708,000 after buying an additional 302 shares in the last quarter. Concorde Asset Management LLC boosted its stake in shares of Amgen by 21.7% in the third quarter. Concorde Asset Management LLC now owns 2,171 shares of the medical research company’s stock valued at $351,000 after buying an additional 387 shares in the last quarter. Spero Smith Investment Advisers Inc. OH boosted its stake in shares of Amgen by 16.7% in the third quarter. Spero Smith Investment Advisers Inc. OH now owns 1,743 shares of the medical research company’s stock valued at $291,000 after buying an additional 250 shares in the last quarter. Vicus Capital acquired a new stake in shares of Amgen during the third quarter valued at $327,000. Finally, BRC Investment Management LLC acquired a new stake in shares of Amgen during the third quarter valued at $6,852,000. Institutional investors and hedge funds own 78.86% of the company’s stock.

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) traded down 1.03% on Friday, reaching $162.42. 5,887,244 shares of the company traded hands. The stock has a market capitalization of $119.44 billion, a price-to-earnings ratio of 15.43 and a beta of 1.37. The stock’s 50-day moving average is $160.16 and its 200-day moving average is $160.84. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $184.21.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Equities research analysts expect that Amgen Inc. will post $12.43 EPS for the current year.

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AMGN has been the topic of a number of research analyst reports. Mizuho set a $195.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Saturday, May 6th. Morgan Stanley upped their price target on shares of Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday. Cowen and Company reissued an “outperform” rating and set a $209.00 price objective on shares of Amgen in a research report on Wednesday, April 19th. BMO Capital Markets reissued a “buy” rating and set a $198.00 price objective (down previously from $200.00) on shares of Amgen in a research report on Monday, May 22nd. Finally, Sanford C. Bernstein set a $164.00 price objective on shares of Amgen and gave the stock a “hold” rating in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Amgen currently has an average rating of “Buy” and an average target price of $185.49.

In related news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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