Alaska Permanent Fund Corp Sells 4,196 Shares of Amgen Inc. (NASDAQ:AMGN)

Alaska Permanent Fund Corp trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,051 shares of the medical research company’s stock after selling 4,196 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Amgen were worth $16,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Amgen during the third quarter valued at approximately $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the third quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. bought a new position in Amgen in the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC bought a new position in Amgen in the third quarter valued at approximately $30,000. Finally, Planned Solutions Inc. bought a new position in Amgen in the fourth quarter valued at approximately $30,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. UBS Group cut their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Oppenheimer restated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $296.95.

Amgen Stock Performance

Shares of AMGN stock traded up $0.03 during midday trading on Thursday, hitting $273.04. 89,645 shares of the company were exchanged, compared to its average volume of 2,805,308. The firm has a market capitalization of $146.45 billion, a P/E ratio of 21.86, a PEG ratio of 2.55 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm’s 50 day moving average price is $275.77 and its two-hundred day moving average price is $281.55. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.09 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 19.42 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

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.