State of Alaska Department of Revenue Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

State of Alaska Department of Revenue lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,279 shares of the medical research company’s stock after selling 1,125 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amgen were worth $19,619,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AMF Tjanstepension AB grew its position in Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock valued at $38,825,000 after acquiring an additional 17,387 shares during the period. Czech National Bank raised its holdings in Amgen by 7.1% in the third quarter. Czech National Bank now owns 109,459 shares of the medical research company’s stock valued at $35,269,000 after buying an additional 7,237 shares during the period. City Center Advisors LLC acquired a new position in Amgen during the third quarter valued at approximately $220,000. Atomi Financial Group Inc. grew its stake in Amgen by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 5,388 shares of the medical research company’s stock worth $1,736,000 after buying an additional 217 shares during the period. Finally, City Holding Co. increased its position in shares of Amgen by 0.6% in the third quarter. City Holding Co. now owns 10,719 shares of the medical research company’s stock worth $3,454,000 after acquiring an additional 67 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.00.

Amgen Stock Performance

AMGN opened at $307.81 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company’s fifty day moving average price is $271.14 and its two-hundred day moving average price is $303.52. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $165.46 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.87 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. On average, analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.