Public Employees Retirement Association of Colorado Has $21.79 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Public Employees Retirement Association of Colorado trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,640 shares of the medical research company’s stock after selling 3,055 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Amgen were worth $21,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Planned Solutions Inc. purchased a new position in shares of Amgen in the 4th quarter worth approximately $30,000. Relyea Zuckerberg Hanson LLC lifted its position in shares of Amgen by 42.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,345 shares of the medical research company’s stock worth $387,000 after acquiring an additional 399 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Amgen by 9.5% during the fourth quarter. Global Retirement Partners LLC now owns 12,898 shares of the medical research company’s stock worth $3,914,000 after acquiring an additional 1,114 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Amgen by 3.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 1,946 shares of the medical research company’s stock worth $560,000 after acquiring an additional 61 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Amgen by 3.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,504 shares of the medical research company’s stock worth $1,009,000 after acquiring an additional 106 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AMGN shares. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Finally, Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.63.

Amgen Price Performance

Shares of AMGN traded down $1.87 during trading hours on Monday, reaching $332.98. 664,535 shares of the stock traded hands, compared to its average volume of 2,647,301. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $346.85. The company’s 50-day moving average price is $313.96 and its two-hundred day moving average price is $297.24. The company has a market cap of $178.62 billion, a P/E ratio of 47.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced 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 business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.98 EPS. On average, analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’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 directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen 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.