Amgen Inc. (NASDAQ:AMGN) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,404 shares of the medical research company’s stock after purchasing an additional 6,790 shares during the period. State of Alaska Department of Revenue’s holdings in Amgen were worth $24,617,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $33,000. Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter valued at about $36,000. Finally, FSA Wealth Management LLC grew its stake in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMGN. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen increased their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $332.55.

Amgen Price Performance

Shares of Amgen stock opened at $316.98 on Friday. The firm has a fifty day moving average price of $325.49 and a two-hundred day moving average price of $313.77. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the previous year, the business posted $5.00 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s dividend payout ratio is presently 128.57%.

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.